3. The following is extracted trial balance of Bibi Florist, drawn up on conclusion of her first year in business. Bibi Florist Trial Balance as at 31 December 2019 Particulars Debit (RM) Credit (RM) General expenses 305 Business rates Motor expenses Salaries Insurance 2,400 910 39,560 1,240 121,040 Purchases Sales Car 235,812 4,300 Account payable 11,200 Accounts receivable 21,080 53,000 2,715 325 Premises Cash at bank Cash in hand Сapital Drawings 23,263 23,400 270.275 ТОTAL 270.275 Inventory at 31 December 2019 was RM14,486. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 December 2019 ii. Statement of Financial Position as 31 December 2019
3. The following is extracted trial balance of Bibi Florist, drawn up on conclusion of her first year in business. Bibi Florist Trial Balance as at 31 December 2019 Particulars Debit (RM) Credit (RM) General expenses 305 Business rates Motor expenses Salaries Insurance 2,400 910 39,560 1,240 121,040 Purchases Sales Car 235,812 4,300 Account payable 11,200 Accounts receivable 21,080 53,000 2,715 325 Premises Cash at bank Cash in hand Сapital Drawings 23,263 23,400 270.275 ТОTAL 270.275 Inventory at 31 December 2019 was RM14,486. Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 31 December 2019 ii. Statement of Financial Position as 31 December 2019
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 11Q: If the Prepaid Insurance account had a balance of $12,000, representing one years policy premium,...
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