Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, i need help on getting an answer for question below in which i need to PREPARE STATEMENT OF PROFIT OR LOSS for the year

image text in transcribed

Hi, i need help on getting an answer for question below in which i need to PREPARE STATEMENT OF PROFIT OR LOSS for the year ended 31 December 2018. Thanks

image text in transcribed
Question 1 Mat Lan, the owner of Matt Enterprise extracted the following balances as at 31 December 2018. Prepare statement of profit or loss for the year ended 31 December 2018. Particulars RM Inventory on 1 January 2017 4,300 +Inventory on 31 December 2017 3,700 Purchases 26,400 Sales 53,700 Carriage inward 860 Insurance on purchase 320 Duty on purchase 390 Purchase returns 2,200 Sales returns 1,100 O

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

Students also viewed these Accounting questions