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updated Question 2 (20 marks) The following is a list of balances obtained from Shamimi Enterprise as at 31 October 2020. 30.00 DobRMRM Sales 440.000
updated Question 2 (20 marks) The following is a list of balances obtained from Shamimi Enterprise as at 31 October 2020. 30.00 DobRMRM Sales 440.000 Phases 230.000 Retumiwa 17,050 Retowards 19 Carewa 4,400 Bood Inger duties coche 1.100 II NSO 23.00 Capital 640 Sundry 1.500 Salaries Telephone and tricity 6.000 IE SO 2.700 1.300 Discount allowed 1.000 Dreved Nae 1. So Interest 2.000 Interest received 1.400 Landing 100.540 60.00 Furniture 15. Nicowe 16.00 75.000 Drawings 3.000 10 Accouble 45.000 Cash 30 Accumulated deprec Vehicle 20.000 Soo 21.4 421440 The following additional information as at 31 October 2020 is available: 1) Inventories as at the close of business were valued at RM44,000. ii) Depreciation for the year ended 31 October 2020 has yet to be provided as follows: Vehicles: 15 percent using the straight-line method Furniture: 10 percent using the straight line method. iii) Interest on loan and interest received are accrued by RM200 and RM100 respectively. The insurance expenses amounting to RM450 was for the period of 1 March 2020 to 28 February 2021. iv) The owner has taken goods worth RM2,000 for her own use and no record was made in her accounts. Required: a) Prepare statement of profit and loss for the year ended 31 October 2020. (10 marks) b) Prepare statement of financial position as at 31 October 2020. (10 marks) The following is a list of balances obtained from Shamimi Enterprise as at 31 October 2020. Debit (RM, Credit (RM Sales 400.000 Purchases 220.000 Ronim de 17,000 Retim otwarde Carriwardi 4400 Camarewards 3.000 Import duties purchase Inventory as st 1 Nov 2016 Capital Sundy apo 1.500 Salanes 40.000 Telephone and electricity 6.000 WOO Motorex 2.700 SARY L. Dhon slowed 1.000 Discounted 6.00 Allowance decheful debes Interest 2.000 Interest received 1.400 Land und building 100,300 Melide 000 |Tumaure) 15.000 Aces receivable 35.000 Rank 75.000 Drawis 1.000 Bank loan 10.000 Apayable 45.000 90 Acuated depreciation Vehicle 20,000 Parniture 500 68.00 The following additional information as at 31 October 2020 is available: D) Inventories as at the close of business were valued at RM44,000. ii) Depreciation for the year ended 31 October 2020 has yet to be provided as follows: Vehicles: 15 percent using the straight-line method Furniture: 10 percent using the straight line method. ii) Interest on loan and interest received are accrued by RM200 and RM100 respectively. The insurance expenses amounting to RM450 was for the period of 1 March 2020 to 28 February 2021. iv) The owner has taken goods worth RM2,000 for her own use and no record was made in her accounts. Question 4 marks) The following is a list of balances obtained from Shamimi Enterprise as at 31 October 2020. Debit (RM) Credit (RM) Sales 440,000 Purchases 220.000 Return inwards 17,0501 Return outwards 19,800 Carriage inwards 4,400 Carriage outwards 3,000 Import duties on purchase 1.100 Inventory as at 1 Nov 2019 1 33.000 Capital 64,6201 Sundry expenses 1,500 Salaries 40,000 Telephone and electrictity 6,000 Insurance 900 Motor expenses 2,700 Stationery 1,300 Discount allowed 1.000 Discount received 6001 Allowance doubtful debts 1,500 Interest on loan 2.000 Interest received 1,400 Land and building 100,5401 Vehicles 60.000 Furniture 15,000 Accounts receivable 35,000 Bank 75,000 Drawings 3.000 Bank loan 30,000 Accounts payable 45,000 Cash 930 Accumulated depreciation Vehicle 20,000 Furniture 5001 623,490 623,490
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