i) statement of profit and loss and other comprehensive income for the year ended 30 june 2019ii) statement of financial position as 30 june 2019 4. The following is extracted trial balance of Grey Grig Ltd as at 30 June 2019.Grey Grig LtdTrial Balance as at 30 June 2019ParticularsDebit (RM) Credit (RM)Equipment rentalInsurance940Lighting and heating expensesMotor expensesSalaries and wagesSalesPurchase1,8041,9902,35048,580382,420245,950624Sundry expensesLorryAccount payable19,40023,408Account receivable44,5164,600174,000FixturesShopCash at bankDrawingsСapital11,34644,000194,272600 100ТОTAL600.1004/5Inventory at 30 June 2019 was RM29,304.

Financial Statement:- These are statements prepared at the end of the financial year to know the…

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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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i) statement of profit and loss and other comprehensive income for the year ended 30 june 2019

ii) statement of financial position as 30 june 2019

4. The following is extracted trial balance of Grey Grig Ltd as at 30 June 2019.
Grey Grig Ltd
Trial Balance as at 30 June 2019
Particulars
Debit (RM) Credit (RM)
Equipment rental
Insurance
940
Lighting and heating expenses
Motor expenses
Salaries and wages
Sales
Purchase
1,804
1,990
2,350
48,580
382,420
245,950
624
Sundry expenses
Lorry
Account payable
19,400
23,408
Account receivable
44,516
4,600
174,000
Fixtures
Shop
Cash at bank
Drawings
Сapital
11,346
44,000
194,272
600 100
ТОTAL
600.100
4/5
Inventory at 30 June 2019 was RM29,304.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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