Mr. Irfan opened a gold shop. This store started operating on 1st Jan 2020. He kept all the transactions as follows:

1-Jan-20 Starting a business with cash of RM180,000 3-Jan-20 Deposit RM150,000 into the current account of Malayan Banking Bhd 9-Jan-20 Buy a van priced at RM58,200 on credit from Syarikat Auto Sdn Bhd and the monthly payment is RM693.00 paid on the 30th of each month in cash. 10-Jan-20 Buying goods for supplies from the Gold Bird Company worth RM9,000 in cash. 10-Jan-20 Buy furniture worth RM7,000 in cash. 11-Jan-20 Buy a personal computer priced at RM3,000 for store use in cash. 11-Jan-20 Buying goods for supplies from Han Seng Company worth RM 50,000 on credit 12-Jan-20 Renovation of a shop worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan using a check and the rest will be paid next month 12-Jan-20 Purchased supplies from Padi Emas Enterprise for RM 30,000 in cash and paid by check 13-Jan-20 Bought from Unggul Sdn Bhd for RM30,000 in cash using a check and the rest will be paid next month amounting to RM20,000. The goods are for sale. 14-Jan-20 Electricity deposit of RM300.00 and RM200 phone is paid in cash. 15-Jan-20 The owner took RM2,000 for his own use. 16-Jan-20 Pay premium insurance in cash of RM2,000 16-Jan-20 Sale on the first day of RM5,000. 17-Jan-20 Pay a promotional cost of RM3,000 in cash. 17-Jan-20 Sales collection of RM 4,000 18-Jan-20 Sales collection of RM 2,000 18-Jan-20 Selling goods to Perdana Sdn Bhd worth RM500 on credit 18-Jan-20 Deposit cash into the bank of RM10,000. 19-Jan-20 Sales collection of RM3,000 20-Jan-20 Collection from sales of RM1,400 21-Jan-20 Selling goods to Sakti Sdn Bhd worth RM300 on credit 21-Jan-20 Collection from sales of RM2,300 21-Jan-20 Deposit cash into the bank of RM10,000. 22-Jan-20 Collection from daily sales of RM3,100 22-Jan-20 Received a check from Perdana Sdn Bhd of RM500 23-Jan-20 Explain phone bill RM56, water bill RM20, electricity bill RM235 23-Jan-20 Collection from daily sales of RM3,200 24-Jan-20 Pay monthly salary of RM1,000, EPF RM100, SOCSO RM 20. 24-Jan-20 Collection from daily sales of RM2,800 25-Jan-20 Settle shop rent RM1,500 by check. 25-Jan-20 Pay to Han Seng Company with a check of RM 20,000.00 25-Jan-20 Collection from daily sales of RM2,780 25-Jan-20 Deposit cash into bank of RM10,000. 26-Jan-20 Sending goods to Perdana Sdn Bhd worth RM300 in debt. 26-Jan-20 Collection from daily sales of RM2,500 26-Jan-20 Buy items for stock on credit from Syarikat Ali Ahmad worth RM12,000 26-Jan-20 Buying goods in cash from wholesalers of RM5,100 is paid by check. 27-Jan-20 Collection from daily sales of RM3,000 27-Jan-20 Sending goods purchased from Ali Ahmad Company for RM2350 due to damage. 28-Jan-20 Sakti Sdn Bhd paid off outstanding debt of RM300 28-Jan-20 Collection from daily sales of RM3,000 28-Jan-20 Purchase additional furniture for the store for RM2,500 in cash. 28-Jan-20 Deposit cash into the bank of RM4,000 29-Jan-20 Collection from daily sales of RM3,500 30-Jan-20 Collection from daily sales of RM4,000 31-Jan-20 Collection from daily sales of RM4,500 31-Jan-20 Deposit cash into the bank of RM10,000

Additional information

1. Final supply balance worth RM123,042 2. Depreciation rates for assets are: - a. Vehicles 20% per annum b. Office equipment & furniture 20% per annum c. Computers 20% per year d. 20% machine per year

Therefore you are required to help him prepare: -

Prepare Income Statement for Kedai Emas Ria ending 31st Jan 2020