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The trial balance of DSY Enterprise as at 31 December 2020 is as follows: Additional information: 1. Depreciation for the building and equipment are RM5,000
The trial balance of DSY Enterprise as at 31 December 2020 is as follows: Additional information: 1. Depreciation for the building and equipment are RM5,000 and RM4,500 respectively. 2. Inventory as at 31 December 2020 is RM 44,450. 3. Interest on bank loan of RM 200 which is due on 31 December is not yet paid. 4. Unpaid salary for the month of December is RM 5,500. 5. Prepaid insurance is RM 1,000 . 6. Accrued utility expenses as at 31 December is RM 2,700. 7. Five per cent of the debt is assumed uncollectible. Required: a. The Statement of Profit or Loss for the year ended 31 st December 2020. b. The Statement of Financial Position as at 31 st December 2020. The trial balance of DSY Enterprise as at 31 December 2020 is as follows: Additional information: 1. Depreciation for the building and equipment are RM5,000 and RM4,500 respectively. 2. Inventory as at 31 December 2020 is RM 44,450. 3. Interest on bank loan of RM 200 which is due on 31 December is not yet paid. 4. Unpaid salary for the month of December is RM 5,500. 5. Prepaid insurance is RM 1,000 . 6. Accrued utility expenses as at 31 December is RM 2,700. 7. Five per cent of the debt is assumed uncollectible. Required: a. The Statement of Profit or Loss for the year ended 31 st December 2020. b. The Statement of Financial Position as at 31 st December 2020
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