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The following trial balance was extracted from the books of Ryhan Trading on 30 September 2020. Debit Credit RM RM Capital 1 October 2019 300,000
The following trial balance was extracted from the books of Ryhan Trading on 30 September 2020. Debit Credit RM RM Capital 1 October 2019 300,000 Drawings 7,000 Premises at cost 270,000 Motor vehicle at cost 160,000 Inventory 1 October 2019 10,000 Sales 190,000 Purchases 130,000 Returns 5,000 8,000 Discounts 6,000 7,000 Carriage inwards 10.000 Selling and distribution expense 50,000 General expenses 10,000 Rent received 3,000 Fees received 2,000 Trade receivables 21,000 Trade payables 30,000 Cash and bank 1,000 10,000 Loan from CIMB (repayable 2030) 80,000 Notes Payable (due in 2022) 50,000 TOTAL 680,000 680,000 (Note: inventory on 30 September 2020 was RM8,000) REQUIRED a) Prepare the Statement of Profit or Loss of Ryhan Trading for the year ending 30 September 2020. (10 marks) Activ b) Prepare the Statement of Financial Position of Ryhan Trading as at 30 September to 2020
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