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Munirah Trading for the year ended 30 June 2022. Trial balance as at 30 June 2 Inventory at 1 July 2021 Sales Purchases Return inwards Return outwards Electricity charges Rental Dr (S) Cr (S) 5,000 148,600 2,400 700 8,300 176,000 3,600

Munirah Trading for the year ended 30 June 2022. Trial balance as at 30 June 2 Inventory at 1 July 2021 Sales Purchases Return inwards Return outwards Electricity charges Rental Dr (S) Cr (S) 5,000 148,600 2,400 700 8,300 176,000 3,600

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....
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The following balances were extracted from the books of Munirah Trading for the year ended 30 June 2022. Trial balance as at 30 June 2022 Inventory at 1 July 2021 Sales Purchases Return inwards Return outwards Electricity charges Rental Salary and wages Fixtures & fittings Cash & Bank Accounts receivable Accounts payable Capital Drawings Dr (S) Cr (S) 5,000 148,600 2,400 700 8,300 6,500 10,500 16,600 13,000 176,000 3,600 11,000 30,000 9,000 220,600 220,600 Additional information:- i) Inventory as at 30 June 2022 was valued at $5,500 ii) Accrual electricity charges of $65 iii) Prepaid rental of $500 iv) Furniture is to be depreciated at a rate of 10% on cost. REQUIRED:- a) Prepare the Statement of Comprehensive Income for the year ended 30 June 2022. b) Prepare the Statement of Financial Position as at 30 June 2022.
Transcribed Image Text:The following balances were extracted from the books of Munirah Trading for the year ended 30 June 2022. Trial balance as at 30 June 2022 Inventory at 1 July 2021 Sales Purchases Return inwards Return outwards Electricity charges Rental Salary and wages Fixtures & fittings Cash & Bank Accounts receivable Accounts payable Capital Drawings Dr (S) Cr (S) 5,000 148,600 2,400 700 8,300 6,500 10,500 16,600 13,000 176,000 3,600 11,000 30,000 9,000 220,600 220,600 Additional information:- i) Inventory as at 30 June 2022 was valued at $5,500 ii) Accrual electricity charges of $65 iii) Prepaid rental of $500 iv) Furniture is to be depreciated at a rate of 10% on cost. REQUIRED:- a) Prepare the Statement of Comprehensive Income for the year ended 30 June 2022. b) Prepare the Statement of Financial Position as at 30 June 2022.
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