TUTORIAL 4 FINANCIAL STATEMENT

The following is the trial balance of King Trading as at 31 December 2016.

Account	Dr (RM)	Cr (RM)
Motor vehicle	7,000
Building	54,000
Machinery	7,000
Fixture and fitting	3,140
Inventory	16,690
return	430	475
Cash	6,120
bank overdraft		1,230
Long term loan		14,500
Short term loan		7,450
salary and wages	6,780
Freight inward	1,320
Utilities	1,500
Drawing	490
Insurance	2,330
Capital		56,910
Discount received & Discount allowed	1,800	2,880
Account receivable & Account payable	4,595	8,290
Duty Import	2,230
Depreciation	4200
Interest on loan	1,110
Purchase & Sale	53,100	81,990
Commission received		4,450
Maintenance	400
Stationeries	540
Promotion	1,200
Bad debt	2,200
	178,175	178,175

Additional Information:

Closing inventory is RM18,500

Required:

a. Prepare a statement of comprehensive income as at 31 December 2019

b. Prepare a statement of Financial Position as at 31 December 2019