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The question and instructions are in the picture above. Thank you Question 1: The trial balance extracted from the books of Amina as at 31
The question and instructions are in the picture above. Thank you
Question 1: The trial balance extracted from the books of Amina as at 31 August 2021 is as follows: Debit RM Credit RM 5,083 180 5,000 14,000 5,300 4,600 1,260 3,800 64,950 41,500 1,200 6,500 Accounts Accounts Capital 1 September 2020 Drawings Loan Land Office Equipment Motor Vehicles Inventory 1 September 2020 Cash at bank Sales Purchases Bad debts Trade payables Trade receivables Rent Bank charges Sales return Purchases return Salaries Travelling expenses Carriage inwards Discount allowed Discount received General expenses Commission received Carriage outwards Commission Paid Advertisement expenses 7,600 248 120 80 100 860 530 245 90 100 45 150 50 100 75 81,883 81,883 Inventory as at 31 August 2021 is valued at RM3,500. Required: (a) Prepare Thomas' Income Statement for the year ended 31 August 2021. (10 marks) (b) Prepare his Statement of Financial Position as at 31 August 2021. (10 marks)Step by Step Solution
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