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i Structured Questions 1/4 1

Accounting

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i Structured Questions 1/4 1. Susan, a sole trader, has the following transactions during the year ended 30 April 2020: Paid RM38,400 motor insurance for the period from 1 July 2019 to 30 June 2020. ii. Received RM63,000 rental revenue for period 1 August 2019 to 31 May 2020. iii. Received RM42,500 commission revenue for sales made during period 1 July 2019 to 31 March 2020. The Commission revenue of RM3,280 earned in April 2020 received on 6 May 2020. iv. Paid RM78,200 salary for period 1 May 2019 to 31 March 2020. Due to late receipts from customers, the April 2020 salary of RM9,700 was paid on 6 May 2020. Required: a. Prepare the ledger accounts for the above transactions. b. Show the Statement of Profit or Loss and Other Comprehensive Income (extract) for the year ended 30 April 2020 and the Statement of Financial Position (extract) as at 30 April 2020.