Old MathJax webview

Q6. From the following Trial Balance of ABC Traders, prepare a statement of comprehensive (30) income statement of owner's equity and a statement of financial position as on 31st December, 2020 (Considering the adjustments): ABC TRADERS TRIAL BALANCE As on 31st December 2020 Account Titles Debit (Tk) Credit (Tk) Capital....... 5,00,000 Accounts Receivable 40,000 Accounts Payable 20,000 Salaries expenses 30,000 Prepaid Insurance 3000 Rent expenses 60,000 Utilities expenses 2000 Gross Profit 1,80,000 Repair expense 1000 5,69,200 Equipment Accumulated depreciation Equipment 5000 Bad debts expense 800 1000 Provision for doubtful debts 7,06,000 7,06,000 Additional information: (i) salaries unpaid Tk. 6000 for the period; (ii) Insurance expense expired per month Tk. 200. (iii) Rent expense per month Tk. 4000. (iv) Make allowance for doubtful debts on accounts receivable @ 3%