The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac  2020:  Particulars  RM Capital  63,030 Carriage in  1,620 Carriage out  800 Purchases  145,800 Office equipment  10,000 Motor vehicle  8,500 Sales  232,950 Wages and salaries  68,000 Rent and rates  3,600 Lighting and heating  8,400 Vehicles running cost  4,300 Telephone expenses  9,600 General office expenses  3,180 Debtors  28,400 Creditors  16,440 Provision for depreciation:   Motor vehicle   Office equipment 4,250  4,000 Provision for doubtful debts  500 Drawings  13,570 Cash at bank  6,200 Cash in hand  300 Stock as at 1 April 2019  8,000 Return inwards  3,800 Return outwards  2,900 Additional information as at 31 Mac 2020:  Stock on hand was valued at RM8,800  Rent and rates prepaid RM1,200  iii. Wages and salaries RM1,750  Depreciation is to be provided as follows:  Motor vehicles - 50 % reducing balance method  Office equipment - 20% straight line method The doubtful debts provision is to be maintained at 2% of closing debtors. Required:  1.a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac  2020.

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
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  1. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac  2020: 

Particulars 

RM

Capital 

63,030

Carriage in 

1,620

Carriage out 

800

Purchases 

145,800

Office equipment 

10,000

Motor vehicle 

8,500

Sales 

232,950

Wages and salaries 

68,000

Rent and rates 

3,600

Lighting and heating 

8,400

Vehicles running cost 

4,300

Telephone expenses 

9,600

General office expenses 

3,180

Debtors 

28,400

Creditors 

16,440

Provision for depreciation

 Motor vehicle 

 Office equipment

4,250 

4,000

Provision for doubtful debts 

500

Drawings 

13,570

Cash at bank 

6,200

Cash in hand 

300

Stock as at 1 April 2019 

8,000

Return inwards 

3,800

Return outwards 

2,900



Additional information as at 31 Mac 2020: 

  1. Stock on hand was valued at RM8,800 
  2. Rent and rates prepaid RM1,200 

iii. Wages and salaries RM1,750 

  1. Depreciation is to be provided as follows: 
  2. Motor vehicles - 50 % reducing balance method 
  3. Office equipment - 20% straight line method
  4. The doubtful debts provision is to be maintained at 2% of closing debtors. Required: 

1.a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 Mac  2020.  

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