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Question 2 Susan, a sole trader extracted the following trial balance from her books at the end of business on 31 March 2021 Dr
Question 2 Susan, a sole trader extracted the following trial balance from her books at the end of business on 31 March 2021 Dr Cr (RM) (RM) Purchases and sales Stock 22,860 41,970 5,160 Capital 7,200 Bank Overdraft Cash Discounts Return Inwards 4,350 90 1,440 930 810 Return Outwards 570 Carriage Outwards 2,160 Rent and Insurance 1,740 Provision for bad and doubtful debts 660 Fixtures and fitting 1,050 Delivery van 1780 Debtors and creditors 11,910 6,060 Drawings Wages and salaries 2,880 8,940 General office expenses 450 61,740 61,740 Additional information: a. Closing stock is RM 4,390. b. C. Rent prepaid is RM 200. d. Wages and salaries accrued RM 250; Office expenses owing RM 50. Increase the provision for bad and doubtful debt by RM 160 to RM 820. You are required to: a. Prepare an income statement for the year ended 31 March 2021. (20 marks) b. A balance sheet as 31st March 2021. (20 marks)
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