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Urgent account question. thanks Question 1 Leena Enterprise provided the following Trial Balance. Trial Balance As At 30 June 2018 Debit (RM) Credit (RM) Premises
Urgent account question. thanks
Question 1 Leena Enterprise provided the following Trial Balance. Trial Balance As At 30 June 2018 Debit (RM) Credit (RM) Premises 95.000 60,000 Fixtures and Fittings Sales 150,000 Purchases 68,000 20,000 Stock IJuly 2017 Return inwards 2.300 2,900 1.950 11.000 14,000 Return outwards Carriage inwards Rent Salary Insurance Discount Allowed Discount Received Receivables Payables Accumulated depreciation 4,000 3,000 5,600 30,000 47,000 - Premises 9.500 8.000 450 350 - Fixtures and Fittings Allowance for doubtful debts Carriage Outwards Capital Drawings Bank Cash 110,000 3.500 15.000 3,050 Bad Debts TOTAL 2,300 333,450 333,450 Additional information: : i Stock 30 June 2018 is RM19,500. . ii. Accrued rent is RM3,000. iii. Prepaid insurance is RM300. Premises is depreciated 5% on cost and Fixtures and Fittings is depreciated 10% on IV cost. v. Allowance for doubtful debts is 5% on receivables. Required: a) Statement of profit and loss and other comprehensive income for the year ended 30 June 2018 (15 marks) b) Statement of Financial Position as 30 June 2018. (15 marks) (Total: 30 marks)Step by Step Solution
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