Question
Introduction to Accounting The following is the trial balance of Red Flower Sdn Bhd as at 31 December 2019. Particulars Debit (RM) Credit (RM) Inventory
Introduction to Accounting
The following is the trial balance of Red Flower Sdn Bhd as at 31 December 2019.
| Particulars | Debit (RM) | Credit (RM) |
| Inventory (1 January 2019) | 5,000 |
|
| Purchases and sales | 20,000 | 150,000 |
| Carriage Outwards | 2,000 |
|
| Return Outward |
| 500 |
| Wages and Salaries | 2,200 |
|
| Rent expenses | 1,800 |
|
| Delivery expenses | 300 |
|
| Discount allowed and discount received | 700 | 500 |
| Insurance | 1,400 |
|
| General expenses | 600 |
|
| Building | 100,000 |
|
| Account receivable and account payable | 40,000 | 11,000 |
| Furniture and fittings | 8,000 |
|
| Cash in bank | 15,000 |
|
| Cash in hand | 2,000 |
|
| Drawing | 1,000 |
|
| Capital |
| 38,000 |
|
| 200,000 | 200,000 |
The closing inventory was RM7,000
REQUIRED:
- Prepare a Statement of Comprehensive Income for the year ended 31 December 2019.
- Prepare a Statement of Financial Position as at ended 31 December 2019.
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