Question 6

Andrew

Trial Balance (extracted) as at 30 June 2017

Particulars	Debit (RM)	Credit (RM)
Capital on 1 July 2016		108,843
Fixed assets at cost:
Building	50,000
Equipment	25,000
Vehicles	36,000
Provisions for depreciation at 1 July 2016:
Equipment		10,000
Vehicles		12,000
Drawings	6,000
Debtors and Creditors	42,450	18,542
Stock on 1 July 2016	15,485
Bank	3,216
Cash	250
Purchases and Sales	94,637	275,048
Goods returned	846	219
Discounts	190	365
Wages	81,350
General expenses	41,296
Vehicle expenses	18,632
Office expenses	9,265
Bad debt	400
	425,017	425,017

Additional Information at 30 June 2017:

1. Closing stock RM 16,250.

2. Wages owing RM 1,700.

3. General expenses paid in advance RM 500.

4. Andrew took goods for his personal use, which have not yet been accounted for

RM 750.

5. Additional bad debts should be written off RM 450.

6. Depreciation is calculated using the straight-line method. The following rates applied:

   1. Equipment 20%

   2. Vehicles 30%

REQUIRED:

1. Statement of Comprehensive Income for the year ended 30 June 2017.

2. Statement of Financial Position as at 30 June 2017.

(25 marks)