Question
The following is the trial balance of Jackie Chong Trading as at 31 March 2016: Particulars RM RM Inventory in 1 April 2015 Purchases and
The following is the trial balance of Jackie Chong Trading as at 31 March 2016:
Particulars | RM | RM |
Inventory in 1 April 2015 Purchases and sales Carriage outwards Return outwards Wages and salaries Rent paid Delivery expenses Discount allowed and received Insurance General expenses Premises Trade receivables and payables Furniture and fittings Cash at bank Cash in hand Drawings Capital | 17,600 69,185 1,570
10,240 3,015 624 216 405 318 20,000 14,320 2,850 2,970 675 7,620 ______ 151,608 |
91,920
640
88
8,160
50,800 151,608
|
Inventory as at 31 March 2016 was RM10,700.
Required:
- Prepare a Statement of Comprehensive Income of Jackie Chong Trading for the year ended 31 March 2016
(15 marks)
- Prepare a Statement of Financial Position of Jackie Chong Trading as at 31 March 2016
(10 marks)
(Total: 25 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started