Business, 25.01.2021 17:30 daelinrobinson

The following adjustments need to be considered as at 31 December 2020: 1. The shop rental is RM3,000.00 per month. Samsudin paid rental in advance for three
months.
2. The salary for the shop assistant amounting to RM2,100.00 was still unpaid.
3. Interest on loan from CIMD Bank for half a year was outstanding.
4. One of the customers was declared bankrupt and unable to settle the debts. The
customer still owed RM1,590.00. The allowance for doubtful debts to be provided for
the year is RM1,250.00.
5. Depreciation on a yearly basis is to be provided as follows:
oong で
Delivery van
Shop cabinet
Office equipment
20% using reducing balance method
5% using straight-line method
15% using straight-line method
15000
17500
6. Samsudin withdrew cash amounting to RM2,200.00 and took a pair of shoe amounting
to RM300.00 from the shop for her wife.
7. Inventory as at 31 December 2020 was RM39,000.00.
REQUIRED:
i
Prepare the Statement of Profit or Loss and Other Comprehensive Income for the
year ended 31 December 2020.
Hasil Belarja
[20 Marks]
ii.
Prepare the Statement of Financial Position as at 31 December 2020.
[20 Marks

The following adjustments need to be considered as at 31 December 2020:

1. The shop rental is RM3

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 11:30

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)

Answers: 2

Answer

Business, 22.06.2019 14:00

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.

Answers: 2

Answer

Business, 22.06.2019 16:50

The cost of labor is significantly lower in many countries than in the united states. if you move manufacturing to a facility to a country labeled as part of the axis of evil and a threat to world peace you will increase the net income of your client by $10 million per the facility is located in a country which limits personal freedom and engages in state sponsored terrorism. imagine you are a marketing consultant. (a) what would you tell the executives to do? (b) what are the alternatives? what are your recommendations? why do you recommend this course of action?

Answers: 1

Answer

Business, 22.06.2019 17:00

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?

Answers: 1

Answer

You know the right answer?

The following adjustments need to be considered as at 31 December 2020: 1. The shop rental is RM3,0...

Questions