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Additional information: i) Stock as at 31 December 2020 valued RM 7,500. ii) Accrued insurance...

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Accounting

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Additional information: i) Stock as at 31 December 2020 valued RM 7,500. ii) Accrued insurance RM 500. nii) Prepaid rental revenue RM 1,200. iv) Motor vehicle depreciated at the rate of 10% per annum on cost. v) Allowance for doubtful debts was adjusted 5% on the balance of debtors. You are required to prepare: a) Statement of Comprehensive Income for the year ended 31 December 2020. (15 Marks) b) Statement of Financial Position as at 31 December 2020. (10 Marks) The following is the trial balance of Stay Safe Enterprise on 31 December 2020: Stay Safe Enterprise Trial balance as at 31 December 2020 Debit Credit Capital 180,000 Opening stock 9,000 Purchases and sales 85,500 160,000 Returns 500 Carriage inward 1,000 Bank 15,980 Debtors and creditors 13,000 17,310 Insurance 3,000 Rental revenue 7,200 Commission received 2,000 Salary 24,000 Electricity and water 9,780 Bad debts 2,250 Motor vehicle 50,000 10,000 Accumulated depreciation- Motor vehicle Drawings 2,000 Building 160,800 Allowance for doubtful debts 300 376,810 376,810

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