Question 1

In its income statement for the year ended December 31, 2020 Beach Resort & Spa reported the following data.

Details	Amount (RM)
Sales	28,600
Opening inventory	4,600
Closing Inventories	4,100
Purchases	16, 700
Carriage Inwards	400
Return Inwards	600
Return Outwards	700
Salaries Expense	6,200
Rent Expenses	2,400
Advertising Expense	400

1. Prepare a multiple-step income statement

Question 2

In its income statement for the year ended December 31, 2020, Pelangi Resort reported the following data.

Administrative expenses RM435, 000

Cost of goods sold RM1, 289,000

Interest expense RM70, 000

Interest Revenue RM 28,000

Selling expenses RM 490,000

Loss on sale of equipment RM 10,000

Net sale RM 2,342,000

a) Prepare a single-step income statement

Question 3

Prepare the Profit & Loss Account for SEDAP Restaurant for year ended 31.12.2020

Food Sales RM 3,706,381

Beverage sales RM 647,555

Food Cost of Sales RM 1,282,656

Beverage Cost of Sales RM 145,607

Salaries and Wages RM 1,230,910

Employee Benefits RM 190,394

Direct Operating Expenses RM 234,670

Music RM 4,427

Marketing RM 84,126

Utilities RM 141,688

Maintenance RM 66,416

Administration expenses RM 128,403

Rental RM 230,400

Depreciation RM 79,699