1) Following is the balance of the account for Mr Jack as at 31 Dec 2020 : $ Inventory 1 January 2020 8 250 Accounts Receivable 22 000 Accounts Payable 10 470 Bank 28 000 Land & Building 56 000 Vehicle 48 000 Rental Income 29 600 Carriage Inwards 1 600 Carriage Outwards 2 400 Postage 1 300 Return Inwards 460 Return Outwards 700 Purchase 30 000 Sales 93 300 Advertising 4 400 Utilities 1 160 Discount Received 1 600 Insurance 720 Discount Allowed 1 020 Commission Received 4 600 Stationery 300 Interest Payable 1 260 Loan 18 000 Drawing 6 400 Salary 10 000 Capital 65 000 You are required to prepare : Statement of Profit or Loss for the year end 31 December 2020

Accounting Sep 13, 2021

1) Following is the balance of the account for Mr Jack as at 31 Dec 2020 :

You are required to prepare :

Additional Information :

You are required to prepare :

Additional Information :

For the following transactions of Hale, a sole trader business,

2021
July 1	Opened business with RM8 000 in bank.
2	Purchased stationery RM30 by cheque.
3	Purchased goods on credit RM900 from Wei Siong.
4	Sold the goods on cash amounting RM180.
5	Paid insurance on cash amounting RM40.
7	Purchased office equipment amounting to RM500 on credit from Radha.
8	Paid maintenance fee amounting RM50 by cheque.
10	Sold goods on credit RM320 to Fakri.
11	Returned goods purchased RM70 to Wei Siong.
14	Paid wages in cash amounting RM70
17	Paid rental amounting RM100 by cheque. Owner withdrew cheque from business RM200 for personal use
20	Received cheque from Fakri RM200.
21	Paid Radha in cheque RM500.
23	Purchased stationery from Tree Hill amounting RM80 on credit.
25	Sold goods on credit to Chun Fei RM230. Chun Fei returned goods to the business RM30
28	Received rental on cash amounting to RM 100.
31	Paid Tree Hill amounting RM80 in cheque. Owner put in additional cash into the business RM1,000 At the end of the period: Inventory at the end of the month amounted to RM700