Question 2
The following trial balance has been extracted from the ledger of Nora Ariyana , a sole trader as at 31 May 2019, the end of her most recent financial year.
Debit (RM) |
Credit (RM) |
|
Property at cost |
90,000 |
|
Equipment at cost |
57,500 |
|
Provision for depreciation (as at 1 June 2018) |
||
|
12,500 |
|
|
32,500 |
|
Inventories as at 1 June 2018 |
27,400 |
|
Purchases |
259,600 |
|
Sales revenue |
405,000 |
|
Discount allowed |
3,370 |
|
Discount received |
4,420 |
|
Salaries |
52,360 |
|
Bad debts |
1,720 |
|
Loan interest |
1,560 |
|
Carriage outwards |
5,310 |
|
Other operating expenses |
38,800 |
|
Trade receivables |
46,200 |
|
Trade payables |
33,600 |
|
Provision for bad debts |
280 |
|
Cash on hand |
151 |
|
Bank overdraft |
14,500 |
|
Drawings |
28,930 |
|
13% loan |
12,000 |
|
Capital |
98,101 |
|
612,901 |
612,901 |
|
The following additional information as at 31 May 2019 is available:
Property: 1 percent using the straight-line method
Equipment : 15 per cent using the straight line method.
Required:
(20 Marks)
(10 Marks)
Sol 1
Question 2 The following trial balance has been extracted from the ledger of Nora Ariyana ,...
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