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Please help me . Please help me .. Please i will give upvote urgent needed The following trial balance has been extracted from the ledger
Please help me . Please help me .. Please i will give upvote
urgent needed
The following trial balance has been extracted from the ledger of KL Enterprise. Trial Balance as at 31st March 2021 Accounts Debit (RM) Credit (RM) 40,000 290,000 465,000 1,800 1,200 40,000 15,000 2,200 1,500 2,800 50,000 Capital Purchases Sales Sales Return and Purchase Return Staff salary General Expenses Stationeries Carriage inwards Carriage outwards Long term bank borrowing Rent expense Rates and Assessment Insurance Repairs and maintenance Utilities Bad Debts Discount Received Discount Allowed Drawings Cash in Hand Bank Accounts Receivable Trade Payables Inventories as at 1st April 2020 Furniture and Fittings Accumulated Depreciation - Furniture & Fittings Motor Vehicles Accumulated Depreciation - Motor Vehicles Allowance for Doubtful Debts Total 15,600 2,200 9,460 10,200 1,400 500 4,000 2,500 4,000 5,500 18,000 55,900 35,000 39,500 42,480 8,000 80,400 36,240 1,500 640,940 640,940 . iv. V. Additional information: i. Inventories as at 31" March 2021 was valued at RM45,000 ii. Accrued utilities for the amount of RM5,000. iii. Maintenance were not yet paid amounting to RM2,000. Fire insurance amounting to RM4,800 was taken on 19 January 2021 for the period of 12 months. Additional debts totaling RM6,000 is considered as bad debts. Allowance for doubtful debt is to be adjusted to 4% of net trade receivables. vii. Owner took goods for own usage amounting to RM3,000. viii. Depreciation has not been provided during the year. Depreciation is to be charged as follows: Furniture and Fittings - 25% on reducing balance method Motor Vehicles - 20% straight line method Required: vi. (a) Prepare a statement of Financial Position as at 31 March 2021Step by Step Solution
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