Question
QUESTION 2 ABC Trading Trial Balance as at 31 December 20X2 PARTICULARS DEBIT (RM) CREDIT (RM) Sales 100,000 Purchases 45,000 Return inwards 100 Return Outwards
QUESTION 2
ABC Trading
Trial Balance as at 31 December 20X2
| PARTICULARS | DEBIT (RM) | CREDIT (RM) |
| Sales |
| 100,000 |
| Purchases | 45,000 |
|
| Return inwards | 100 |
|
| Return Outwards |
| 140 |
| Carriage outwards | 330 |
|
| Opening inventory | 1,200 |
|
| Electricity, telephone and water | 200 |
|
| Discount allowed | 130 |
|
| Discount received |
| 180 |
| Salary | 3,400 |
|
| Repairs of motor vehicles | 690 |
|
| Printing and stationery | 300 |
|
| Debtors | 8,000 |
|
| Creditors |
| 13,000 |
| Long term loan |
| 10,000 |
| Bank | 19,500 |
|
| Cash | 500 |
|
| Motor Vehicles | 30,000 |
|
| Furniture & fittings | 20.400 |
|
| Capitals |
| 7,230 |
| Drawings | 800 |
|
| TOTAL | 130,550 | 130,550 |
Inventory as at 31 December 20X2 is RM3,000.
From the following trial balance of ABC Trading you are required:
- Prepare a statement of profit or loss for the year ended 31 December 20X2 ;
- a statement of financial position as at 31 December 20X2.
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
