table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021. January - December 2021Descriptions:Cash injected by ownerLoan (6% for 5 years)Sales (unit)Selling price/unitPurchase price/unitPurchase of van in May(life expectancy 8 years, cashpayment)85% sales collection on 2021Oven bakery stocks (number ofunits purchased)Monthly expensesSalaryUtilityAdvertisement (for a year)MiscellaneousRinggit Malaysia (RM)150,00050,0004,500 unit50039060,0005,000 unit2,5005002,500300

Profit and loss statement shows the amount of profit earned or loss suffered during the period.

table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021.

table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter13: Corporations: Earning & Profits And Distributions

Section: Chapter Questions

Problem 6BCRQ

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