Question
You are an account assistant at Aniq Ammar Enterprise. As of December 31, 2020, you are collecting all Aniq Ammar Enterprise business transactions to streamline
You are an account assistant at Aniq Ammar Enterprise. As of December 31, 2020, you are collecting all Aniq Ammar Enterprise business transactions to streamline your information and calculate your company's profitability and financial position. During this process, you have identified some transaction information that should be recorded and not required to be recorded in the current financial year. Therefore, you need to make adjustments to irrelevant information in order to record only accurate information. Based on the balance of the guesses you have made, as well as the information you have found, you are asked to answer the questions below.The following trial balance was extracted from the book of Aniq Ammar Enterprise on 31st December 2020: Dr Cr RM RM Modal/ Capital 150,000 Ambilan/ Drawings 22,350 Tunai di tangan/ Cash in hand 17,500 Tunai di bank/ Cash at bank 29,200 Van/ Motor van 76,000 Lekapan & Lengkapan/ Fixture & fittings 35,500 Stok pada 1 Januari 2020/ Stock at 1st January 2020 16,900 Belian dan Jualan/ Purchases and Sales 93,500 248,980 Pulangan Jualan dan Belian/ Sales and Purchase Return 2,300 1,300 Penghutang dan Pemiutang/ Account Receivable and Account Payable 33,100 28,500 Pengangkutan Belian/ Carriage inwards 1,190 Belanja sewa/ Rent expenses 27,640 Belanja elektrik/ Electricity expenses 7,800 AFT1043/FEBRUARI/2020 SULIT/CONFIDENTIAL 2 Diskaun Jualan dan Belian/ Sales and Purchase Discounts 2,500 4,300 Belanja van/ Motor Van expenses 11,200 Gaji dan upah/ Salaries and wages 49,700 Belanja pejabat/ Office expenses 6,700 433,080 0\ ] 433,080 Berikut merupakan maklumat tambahan: The following additional information is available: i. Stok pada 31 Disember 2020 bernilai RM29, 800 Stock at 31st December 2020 was valued at RM29, 800. ii. Susut nilai pada kadar 15% setahun terhadap van dan 20% setahun terhadap lekapan dan lengkapan. Depreciation at the rate of 15% per annum on motor van and; 20% per annum on fixtures and fittings. iii. Belanja sewa RM1, 800 telah di bayar bagi bulan Januari 2021. Rent expenses for RM 1,800 had been paid for January 2021. iv. Jumlah belanja elektrik RM365 telah tertunggak dan belum direkod. An amount of RM365 was due for electricity and not yet recorded. v. Menghapuskan hutang sejumlah RM550 kerana tidak boleh dikutip. Write-off a debt of RM550 as irrecoverable. vi. Membuat peruntukan hutang ragu sebanyak 5% daripada penghutang. Make a provision for bad debts of 5% of account receivable. vii. Caj 50% daripada belanja van (termasuk belanja susut nilai) ke dalam akaun dagangan sebagai kos langsung kepada belian. Charge 50% of the motor van expenses (including depreciation expenses) to the trading account as a direct cost for purchase. viii. Pada Ogos 2020, Encik Aniq Ammar telah mengeluarkan RM1000 tunai dari akaun bank syarikat untuk kegunaan peribadi tetapi belum direkod. On August 2020, Mr. Aniq Ammar withdraw RM1000 cash from the business bank account for his personal use but not yet recorded. a) Sediakan Penyata Prestasi (Penyata Pendapatan) Aniq Ammar Enterprise bagi tahun berakhir pada 31 Disember 2020. Prepare a statement of financial performance (income statement) of Aniq Ammar Enterprise as at 31st December 2020. (15 markah/ marks)
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