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please answer all the questions given in details . thank you so much Mr. Kiran is a merchandising company that has business operations in Ipoh,
please answer all the questions given in details . thank you so much
Mr. Kiran is a merchandising company that has business operations in Ipoh, Perak. The following trial balance has been extracted from the books as at 30 September 2021. Kiran Enterprise Trial Balance as at 30 September 2021 1) Closing inventories as at 30 September 2021 were estimated to be worth RM8,700. 2) Annual debreciation for the non-current assats is as follows:- 3) Part of the building is rented out for RM200 per month. As at 30 September, 2021 two months' rental has yet to be received. 4) Encik Kiran purchased a fire insurance policy on 1 June 2021. The amount in the insurance accounts is for the first nine months of the yearly insurance premiums. 5) Provision for doubtful debts amounting to 6% of trade receivable has to be provided. 6) Goods worth RM500 and RM500 cash were taken by Encik Kiran for his own use. No records were made in the accounts. 7) The telephone bill for September 2021 amounting to RM180 has yet to be paid. 8) The interest on the loan at 12% per annum is not yet paid. Required: a) Prepare Kiran Enterprise's Statement of Profit or Loss (post adjustments) for the year ended 30 September 2021. (20 marks) b) Prepare Kiran Enterprise's Statement of Financial Position (post adjustments) as at 30 September 2021. (20 marks) Step by Step Solution
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