dsafqwfq2fewfqweufihqihwfhoqfoiwefohwfqakkfdka511q5qf

The following is a list of balance obtained from Pagoda Enterprise as at 31 ^st. August 2002.

	rm
Accounts payable	2,130
Accounts receivable	3,000
Bank.	3,780
Capital	15,000
Carriage inwards	460
Carriage outwards.	375
Discount received	240
Import duties	475
Inventory (as at 1st September 2001)	2,210
Purchases.	10,876
Purchases return	560
Rent payable	1 ,450
Rent received	1 ,265
Salaries	1,101
Sales	12,690
Sales return	658
Vehicles	7,500

Additional information:

1 . Inventory on 31 ^st August 2002 was valued at RM2,462.

2. Accrued revenue and expenses during the year were as follows:

i. Discount received RM173

ii. Rent payable RM400

3. Prepaid revenue and expenses during the year were as follows:

i. Rent received RM330

ii. Carriage outwards RM80

4. Vehicles are depreciated at 20% per annum.

5. Provision for doubtful debts is 10% of accounts receivables

From the above information, you are required to:

1. Prepare Statements of Profit or Loss (Income Statement) for Pagoda Enterprise for the year ended 31 st August 2002.
2. Prepare Statements of Financial Position (balance Sheet) as at that date.

Pls do it yourself, thanks appreciate your help willl learn from it!