Additional information: 1. Inventory on 30 June 2020 was valued at $ 36,000. 2. Carriage...
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Accounting
Additional information: 1. Inventory on 30 June 2020 was valued at $ 36,000. 2. Carriage inwards owing amounted to $ 1,200. 3. Drawing of goods worth $ 1,100 for personal use had not been taken into account. 4. Motor vehicle is to be depreciated at 20% per annum, using straight-line method. 5. Office equipment is to be depreciated at 10% per annum, using reducing balance. 6. Commission received in advance amounted to $ 800.
Required: a) Prepare the statement of profit or loss for the year ended 30 June 2020 b) Prepare the statement of financial position as at 30 June 2020
Mentari Enterprise, a merchandising business owned by Mr Mustafa, has been in operation for a few years. The trial balance of the business as at 30th June 2020 , is as follows
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