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Consider the following information of Omega Retail Company at December 31 2020. RM RM 6,000 7,000 600 6,300 40,000 Cash Account receivable Supplies Inventories Office
Consider the following information of Omega Retail Company at December 31 2020. RM RM 6,000 7,000 600 6,300 40,000 Cash Account receivable Supplies Inventories Office equipment Accounts payable 10% Bank loan Unearned sales revenue Share capital Retained earnings Dividend Sales revenue Cost of goods sold Administrative expense Selling expense Other operating expenses 8,800 15,000 4,000 20,000 4,800 7,000 37,660 10,160 7,400 4,700 1,100 90,260 90,260 Adjustment data: 1. Accrued or unrecorded sales revenue at, December 31, amounted to RM2,900. 2. The bank loan was taken on 1 January 2020. On 31 December, the interest on bank loan (9%) is unrecorded. 3. Supplies used during the year 2020 is RM500. 4. The office equipment is new and has an estimated useful life of 8 years and depreciation (used portion of the cost of equipment during 2020) has not been recorded. 5. RM 2,000 of the unearned sales revenue has been earned at, December 31, 2020. Required: Prepare the year statement of profit or loss, statement of changes in equity and the statement of financial position at, December 31, 2020
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