Question
The following is the trial balance of T. Owen as at 31 March 2019 T. Owen Trial Balance as at 31 March 2019 Accounts Debit
The following is the trial balance of T. Owen as at 31 March 2019
T. Owen
Trial Balance as at 31 March 2019
| Accounts | Debit | Credit |
| RM | RM | |
| Inventory at 1 April 2018 | 52,800.00 | |
| Sales | 276,400.00 | |
| Purchases | 141,300.00 | |
| Carriage inwards | 1,350.00 | |
| Carriage outwards | 5,840.00 | |
| Returns outwards | 2,408.00 | |
| Wages and salaries | 63,400.00 | |
| Business rates | 3,800.00 | |
| Communication expenses | 714.00 | |
| Commission paid | 1,930.00 | |
| Insurance | 1,830.00 | |
| Sundry expenses | 208.00 | |
| Buildings | 125,000.00 | |
| Accounts receivable | 45,900.00 | |
| Accounts payable | 24,870.00 | |
| Fixtures | 1,106.00 | |
| Cash at bank | 31,420.00 | |
| Cash in hand | 276.00 | |
| Drawings | 37,320.00 | |
| Capital at 1 April 2018 | 210,516.00 | |
| Total | 514,194.00 | 514,194.00 |
Inventory at 31 March 2019 was RM58,440.00
REQUIRED:
Prepare income statement as at 31 March 2019
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Management and Cost Accounting
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
6th edition
1292063467, 978-1292063461
