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QUESTION 2 The following selected accounts with their current balances as at 31 March 2021 were extracted from Affiqque Corporation Sdn Bhd. RM Sales 237,800
QUESTION 2 The following selected accounts with their current balances as at 31 March 2021 were extracted from Affiqque Corporation Sdn Bhd. RM
Sales | 237,800 |
Rent revenue | 40,000 |
Cost of merchandise sold | 106,250 |
Cash | 128,970 |
Accounts receivable | 58,420 |
Merchandise inventory | 42,890 |
Office supplies | 18,500 |
Store equipment | 140,000 |
Accumulated depreciation store equipment | 37,910 |
Accounts payable | 85,970 |
Unearned rent | 32,000 |
Notes payable (due in 2 years) | 79,780 |
Afiq, capital 1 March 2021 | 78,120 |
Additional information: 1. Selling expenses for the month of March 2021 was RM58,280. 2. Administrative expenses for the month of March 2021 was RM38,270. REQUIRED:
(a) | Prepare a single step Statement of Profit or Loss and Other Comprehensive Income for the month of March 2021. |
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