Question 6: Encik Hassan commenced a small-scale retail shop. He kept his business records in his own way. The following account balances as ati January 2019 were extracted from his books RM RM Owing to the suppliers 31.500 Rent and rates not paid 1.200 Customers owed him 33.700 Motor vehicles 21,000 Money in Maybank 14,000 Office equipment 1,600 Inventories 16,000 At the end of the month, Encik Hassan's books show the following information on credit transactions: Customers Debit Credit RM RM Balance as at 1 January 2019 Sales on credit term to customers 134.800 Cheques received 125.000 Discount deducted 3,000 Returned by customers 2,900 Uncollectible amount 840 Balance as at 31 January 2019 Debit RM Credit RM Suppliers Balance as at January 2019 Sales on credit term by suppliers Cheques paid to suppliers Discount given by the suppliers Returned to suppliers Balance as at 31 January 2019 116,000 120 500 1.400 NOO 1 2 6 Apart from the above records, he also tells you the following: He sold his old car for cash RM17,000 and paid into business bank account. Cash sales of RM9.200 paid into the bank 3 Purchases a new typewriter for RM1,000 by cheque. Paid RM8.500 for office expenses by cheque. 5 Rental and rates paid by cheque amounted to RM4.200. A cheque amount RM6,350 issued for his wife to pay the house rental RM2,500, house electricity and water bill of RM2,100, and the balance for office stationery Purchases by cheque amounted to RM2,000. Paid a cheque RM4.500 to his clerk, Cik Salmah for her salary. Petrol expenses for the month RM1,900 paid by cheque. 10 Rental and rates not yet paid by 31 January 2019 amounted to RM650 11 Inventories as at 31 January 2019 valued at RM22,200. Required (a) Prepare a statement of affaits for Encik Hassan as at 1 January 2019. (b) Prepare the bank account for the month of January 2019. (c) Prepare the statement of profit or loss of Encik Hassan for the month ended 31 January 2019. (d) Prepare a statement of financial position as at that date. 7 8 9