Question 1

QUESTION 1 Following is a trial balance of Booroaq Technology Sdn. Bhd as at 31 December 2016 Booroaq Technology Sdn. Bhd Trial Balance As at 31 December 2016 Credit (RM) Debit (RM) Warehouse rent 3,700 21,400 15,570 Wages and Salaries Van Utilities Expenses 334 Shop Lot 199,000 Sales 77,337 Returns Outwards Return inwards 1,330 777 Purchases 35,375 11,755 Opening inventory Long Term debt Legal Expenses Insurance 100,000 757 1,200 General Expenses Equipment Drawings Cash in Hand 555 7,900 6,500 7,324 13,750 710 Cash at Bank Carriage Outwards Carriage inwards 990 Capital 150,000 Account Receivables 9,060 Account Payables 7,990 336,657 336,657 Inventories at 31 December 2016 was RM 11,780 You are required to draw up the Income statement (trading and profit and loss account) i. (23 marks) ii. Balance sheet (17 marks)