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Homework answers / question archive / URGENT QUESTION The following is a trial balance prepared based on the balances extracted from the book of Sazzy Berhad as at 31 November 2016

URGENT QUESTION The following is a trial balance prepared based on the balances extracted from the book of Sazzy Berhad as at 31 November 2016

Accounting

URGENT QUESTION

The following is a trial balance prepared based on the balances extracted from the book of Sazzy Berhad as at 31 November 2016.

 

Debit (RM)

Credit (RM)

Inventories as at 1 December 2015

25,500

  

Purchases

200,000

  

Carriage inwards

2,010

  

Account payables

  

35,000

Rental

4,500

  

Capital

  

150,000

Motor vehicle

45,200

  

Office equipment

106,500

  

Sales

  

300,000

Rental received

  

9,500

Discount allowed

3,500

  

Discount received

  

8,500

Salaries

29,000

  

Account receivable

6,500

  

Return outwards

  

6,500

Return inwards

1,500

  

Accumulated depreciation of motor vehicle

  

3,500

Accumulated depreciation of office equipment

  

22,400

Investment in ASB

25,000

  

Electricity and water

9,500

  

Advertising expenses

9,000

  

Stationery

1,200

  

Travel expenses

10,890

  

7% Loan from CIMB Bank

  

35,000

Cash in hand

45,000

  

Cash in bank

45,600

  
 

570,400

570,400

           

Additional information :

Closing inventory as at 31 November 2016 is RM39,620.

(a)       Prepare the Statement of Comprehensive Income for the year ended 31 November 2016.                                                                              

(5 marks)

(b)       Prepare the Statement of Financial Position as at 31 November 2016.

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