b. InsuranceRM5,000Inventory on 31 Mac 2020 was RM42,800.v.Required:a) Prepare the Statement Profit or Loss and Other Comprehensive Income for theyear 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 31Mac 2020:ParticularsDebitRMCreditRMPurchases and Sales377,000432,000102,000625,000950,000Plant and machineryVehiclesLand and buildingAccumulated depreciation:Plant and machineryVehiclesDiscount allowed and discount receivedReturns inwards and returns outwards175,00039,00076012,200Carriage inwardsCarriage outwardsCustom duties1,50044,0004,7005,50015,4003,600DrawingsProvision for doubtful debtsSalaries and wagesElectricity and waterRent and ratesInsurance2,000300,00065,0004,00055,000Mortgage on land and buildingRepairs and maintenanceCommission earnedAccounts receivablesAccount payableInventory-1 April 2019Cash at bank450,0006,30095,000187,000166,50051,00041,100429,6402.320.100 2.320.100CapitalTOTALThe following additional information is to be taken into consideration:Increase in provision for doubtful debts to RM3,610i.i.Depreciation for the year:a. Plant and machineryb. Vehiclesii. Accrued expenses:RM25,700RM15,300a. Rent and ratesb. Electricity and wateriv. Expenses paid in advance:a. Salaries and wagesRM1,000RM4,800RM4,500

Income statement: Income statement represents the total revenues earned and expenses incurred,…

4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Particulars Debit RM Credit RM 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 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 Carriage inwards Carriage outwards Custom duties 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 Account payable Inventory-1 April 2019 Cash at bank 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 Capital TOTAL The following additional information is to be taken into consideration: i. Increase in provision for doubtful debts to RM3,610 ii. Depreciation for the year: a. Plant and machinery b. Vehicles ilii. Accrued expenses: a. Rent and rates b. Electricity and water iv. Expenses paid in advance: Salaries and wages RM25,700 RM15,300 RM1,000 RM4,800 a. RM4,500

4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Particulars Debit RM Credit RM 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 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 Carriage inwards Carriage outwards Custom duties 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 Account payable Inventory-1 April 2019 Cash at bank 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 Capital TOTAL The following additional information is to be taken into consideration: i. Increase in provision for doubtful debts to RM3,610 ii. Depreciation for the year: a. Plant and machinery b. Vehicles ilii. Accrued expenses: a. Rent and rates b. Electricity and water iv. Expenses paid in advance: Salaries and wages RM25,700 RM15,300 RM1,000 RM4,800 a. RM4,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 3P

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