Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me because I have to submit this by Monday morning. Please help me very much. The following is the trial balance of Ashar

Please help me because I have to submit this by Monday morning. Please help me very much.

image text in transcribed
The following is the trial balance of Ashar Sdn Bhd as at 31 December 2019. Notes Unadjusted entries are as follows: 1. Sales of RM10,000 given 10% discount 2. Inventories at 31 December 2019 was RM63,000, 3. Cash donated to charity was RM8,000 4. Loan received from bank RM50,000 on 1 January 2019 @ 10% per annum with bullet repayment in 2022 5. Depreciation on cost 6. Motor vehicles 10% per annum; and 7. Fixtures 20%% per annum both straight line method 8. The provision for bad debts is to be adjusted to 10 per cent of account receivables (after taking into consideration item 1). Required: 9. Draw up a trading and profit and loss account for the year ending 31 December 2019 10. Statement of Financial Position as at 31 December 2019

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

Data Analysis And Decision Making

Authors: Christian Albright, Wayne Winston, Christopher Zappe

4th Edition

538476125, 978-0538476126

Students also viewed these Accounting questions