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Additional information: 1. Stock as at 30 June 2014 is RM2,270. 2. Mr John, one of the debtors is declared bankrupt and the amount owed
Additional information: 1. Stock as at 30 June 2014 is RM2,270. 2. Mr John, one of the debtors is declared bankrupt and the amount owed by him of RM100 is treated as bad debt. 3. The allowance for doubtful debt for the current year is calculated at 10% on net debtors. 4. Drawings of goods RM300 from the owner has not been recorded in the book. 5. The bank loan was received on 1 January 2014 and interest on loan is at 8% per annum. 6. Depreciation is to be provided as follows: Motor vehicles 20% per annum on cost Fixtures and fittings 15% on net book value 7. Utilities amounted to RM120 is still outstanding during the year end. 8. Monthly salaries paid to a worker is RM1,000. You are required to prepare: (a) Statement of Profit or loss for the year ended 30 June 2014 and; (6) Statement of Financial Position as at 30 June 2014. 200 Shasha Sundry Enterprise Trial Balance as at 30 June 2014 Debit Credit RM RM Drawings 1,500 Capital as at 1 July 2013 70,000 Bank 20.180 Fixtures and fittings 8.000 Motor vehicles 26,000 Debtors and Creditors 3,900 5,000 Land 50,000 Returns 150 Purchases and Sales 26,700 58,700 Carriage inwards 620 Rent received 7,800 Utilities 2,160 Salaries 11,000 Rent 6,000 Bad debt 110 Bank loan 10,000 Interest on loan 650 Accumulated depreciation: Motor vehicles 5,200 Fixtures and fittings 2.220 Allowance for doubtful debt 300 Stock as at 1 July 2013 2,450 159,420 159,420 Additional information: 1. Stock as at 30 June 2014 is RM2,270. 2. Mr John, one of the debtors is declared bankrupt and the amount owed by him of RM100 is treated as had deht
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