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The following is a list of balance obtained from Pagoda Enterprise as at 31 st. August 2002.
| | rm |
| Accounts payable | 2,130 |
| Accounts receivable | 3,000 |
| Bank. | 3,780 |
| Capital | 15,000 |
| Carriage inwards | 460 |
| Carriage outwards | 375 |
| Discount received | 240 |
| Import duties | 475 |
| Inventory (as at 1st September 2001) | 2,210 |
| Purchases. | 10,876 |
| Purchases return | 560 |
| Rent payable | 1 ,450 |
| Rent received | 1 ,265 |
| Salaries | 1,101 |
| Sales | 12,690 |
| Sales return | 658 |
| Vehicles | 7,500 |
Additional information:
1 . Inventory on 31 st August 2002 was valued at RM2,462.
- Accrued revenue and expenses during the year were as follows:
i. Discount received RM173
ii. Rent payable RM400
3. Prepaid revenue and expenses during the year were as follows:
i. Rent received RM330
ii. Carriage outwards RM80
4. Vehicles are depreciated at 20% per annum.
5. Provision for doubtful debts is 10% of accounts receivables
From the above information, you are required to:
- Prepare Statements of Profit or Loss (Income Statement) for Pagoda Enterprise for the year ended 31 st August 2002.
- Prepare Statements of Financial Position (balance Sheet) as at that date.
*** How is it incomplete, pls be specific. I have checked the question again from the source i get. What you see is what i get from the source.
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