4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Debit RM Credit RM Particulars Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards Carriage inwards Carriage outwards Custom duties 377,000 432,000 102,000 625,000 950,000 175,000 39,000 760 12,200 1,500 44,000 4,700 5,500 15,400 3,600 Drawings Provision for doubtful debts Salaries and wages Electricity and water Rent and rates Insurance Mortgage on land and building Repairs and maintenance Commission earned Accounts receivables count payable Inventory - 1 April 2019 Cash at bank Capital 2,000 300,000 65,000 4,000 55,000 450,000 6,300 95.000 187,000 166,500 51,000 41,100 429,640 2,320.100 2.320,100 TOTAL The following additional information is to be taken into consideration: Increase in provision for doubtful debts to RM3,610 ii. Depreciation for the year: a. Plant and machinery b. Vehicles ii. Accrued expenses: a. Rent and rates b. Electricity and water iv. Expenses paid in advance: a. Salaries and wages i. RM25,700 RM15,300 RM1,000 RM4,800 RM4,500 b. Insurance v. Inventory on 31 Mac 2020 was RM42,800. RM5,000 Required: a) Prepare the Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac 2020. b) Prepare the Statement of Financial Position as at 31 Mac 2020.
4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Debit RM Credit RM Particulars Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards Carriage inwards Carriage outwards Custom duties 377,000 432,000 102,000 625,000 950,000 175,000 39,000 760 12,200 1,500 44,000 4,700 5,500 15,400 3,600 Drawings Provision for doubtful debts Salaries and wages Electricity and water Rent and rates Insurance Mortgage on land and building Repairs and maintenance Commission earned Accounts receivables count payable Inventory - 1 April 2019 Cash at bank Capital 2,000 300,000 65,000 4,000 55,000 450,000 6,300 95.000 187,000 166,500 51,000 41,100 429,640 2,320.100 2.320,100 TOTAL The following additional information is to be taken into consideration: Increase in provision for doubtful debts to RM3,610 ii. Depreciation for the year: a. Plant and machinery b. Vehicles ii. Accrued expenses: a. Rent and rates b. Electricity and water iv. Expenses paid in advance: a. Salaries and wages i. RM25,700 RM15,300 RM1,000 RM4,800 RM4,500 b. Insurance v. Inventory on 31 Mac 2020 was RM42,800. RM5,000 Required: a) Prepare the Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac 2020. b) Prepare the Statement of Financial Position as at 31 Mac 2020.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 6MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense...
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