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URGENTTTTT!!!!!!!!!!!! PLEASE ANSWER ASAPPPPP!!!!!!!!!!!!!!!!!!!!!!!!!!! BETTER IF ANSWERS ARE TYPED/ EXCEL Additional information: The following is the trial balance of Maixa Enterprise as at 31 August
URGENTTTTT!!!!!!!!!!!! PLEASE ANSWER ASAPPPPP!!!!!!!!!!!!!!!!!!!!!!!!!!! BETTER IF ANSWERS ARE TYPED/ EXCEL
Additional information: The following is the trial balance of Maixa Enterprise as at 31 August 2021: 1 Inventories as at 31 August 2021 were RM23,000 and their market value was valued at RM20,000. Trial balance as at 31 August 2021 2. Debit RM Depreciation policy of the company is as follows: Credit RM 157,165 Machinery Motor vehicles 10% per annum on cost; : 5% per annum using reducing balance method. 3. Accrued water and electricity amounted to RM400 while rental received in advance amounted to RM800 as at 31 August 2021. 90,800 800 68,000 90,000 150.000 2.400 2,800 1,100 36,000 800 1,450 4. Allowance for doubtful debts is to be adjusted to 2% of net trade receivables. 5. As at 31 August 2021, no entry has been made for a cash withdrawal of RM300 by the owner for his daughter's birthday. 6. An additional amount of RM400 due from a receivable is to be written off as bad debts. 10,400 3,125 2,000 Required: 25,000 Sales Purchases Bad debts Machinery at cost Motor vehicle at cost Land at cost Insurance on purchases Miscellaneous expenses Water and electricity Salaries Carriage inwards Carriage outwards Rent received Returns inwards Returns outwards Inventories as at 1 September 2020 Accumulated depreciation - Machinery Accumulated depreciation - Motor vehicle Drawings Discounts allowed Trade receivables 8% loan from Public Bank Cash Bank Commission received Dividend received Repairing and maintenance expenses Capital Discounts received Trade payables Wages Interest on loan Allowance for doubtful debts (a) 13,600 8,775 Prepare the statement of profit or loss of Maixa Enterprise for the year ended 31 August 2021. (15 marks) 6,500 3,000 54,000 (6) 95,000 Prepare the statement of financial position of Maiya Enterprise as at 31 August 2021. (10 marks) [Total: 25 marks] 32,400 5,000 3,000 8,000 1,400 243,535 2,200 45,000 18,000 7,600 1,500 595,175 595,175Step by Step Solution
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