Question
PREPARATION OF FINANCIAL STATEMENT QUESTION 1 The owner of Medovick Trading supplies you with the following accounts as at 31 December 2020. PARTICULARS DEBIT (RM)
PREPARATION OF FINANCIAL STATEMENT
QUESTION 1
The owner of Medovick Trading supplies you with the following accounts as at 31 December 2020.
| PARTICULARS | DEBIT (RM) | CREDIT (RM) |
| Fixtures and Fittings | 15,000 |
|
| Cash in hand | 5,000 |
|
| Debtors | 2,000 |
|
| Motor Vehicles | 80,000 |
|
| Creditors |
| 12,000 |
| Capital |
| 40,000 |
| Long term Loan |
| 30,000 |
Additional Information:
Net profit for the year ended 31 December 2020 is RM20,000.
You are asked to prepare the Statement of Financial Position as at 31 December 2020.
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Principles Of Financial Accounting Chapters 1 To 18
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
12th Edition
9781118978740
