Question 5 The following trial balance was taken from the books of Lazy Trading at 3 1
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The following trial balance was taken from the books of Lazy Trading at December
tabletableCrazy TradingTrial Balance as at DecembeRMRMCapitalSalesPurchasesCarriage outwards,Returns inwards,Carriage inwards,Returns outwards,,Salaries and wages,Rent monthsSundry expenses,Travelling expenses,DrawingsInventory as at January Accounts receivable,Accounts payable,,Cash and bank,Fixtures and fittings,Motor vehicle,Accumulated depreciation Fixtures and fittings,,Motor vehicle,,bar
Additional information:
Inventory as at December amounted to RM
Lazy Trading still owes its rental for November and December which has not been recorded in the book.
The depreciation for fixtures and fittings is charged at using the straightline method.
The depreciation for motor vehicle is charged at using the reducing balance method.
Out of RM sundry expenses, RM should be travelling expenses. This has yet to be adjusted.
Required:
a Prepare the Statement of Comprehensive Income for the year ended December
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b Prepare the Statement of Financial Position as at December
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