Question
the following adjustment need to cosidered as at 31 disember 2020 1. the shop rental is rm3000 per month. samsudin paid rental in advance for
the following adjustment need to cosidered as at 31 disember 2020
1. the shop rental is rm3000 per month. samsudin paid rental in advance for the three months
2. the salary for the shop assistant amounting to rm2100 was still unpaid
3. interest onloan from CIMDB bank for half a year was outstanding.
4. one of the customers was declared bankrupt and unable to settle the debts. the customers still owed Rm1590.00 . the allowance for doubtful debts to be provided the year is rm1250.00
5. depreciation on a early basis is to be provided as follows.
deliver van 20% using reducing balance method
shop cabinet 5% using straight line method
office equipment 15% using straight line method
6. samsudin withdrew cash amounting to rm2200 and took a pair of shoe amounting to rm300.00 from the shop for her wife
7. inventory as at 31 disember 2020 was rm3900.00
required
i. prepare the statement of profit or loss and other comprehensive income for the year ended 31 december 2020.
ii. prepare the statement of financial position as at 31 december 2020
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