Tutorial 9Submission date: 18 January 2021 before 12.00pm1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti.ParticularsDebitRMCreditRM101,430Capital 1 February 2019Vehiçles at costEquipment at costPurchases and salesProvision for depreciation at 1 February 2019:35,00080,000284,680 503,520VehiclesEquipmentReturn inward and return outwards21,00035,0006501,3401,22025,5704,9307,420andFinance expensesStock at 1 February 2019Vehicles expensesRent, rates and insuranceOffice expensesDrawingsPetty cashWages and salariesBad debts21,94023,55020095,3701,240Debtors and creditors83,210 18,950Cash at bank14,880680,550 680,550TOTALAdditional information as at 31 January 2020:No. Particularsi. Stock valued atii. Insurance prepaidRM29,750340420iiGoods taken from stock for own useiv. Wages duev. Provision for doubtful debt required2,400620Provision for depreciation is to be provided as follows:VehiclesEquipment - reducing balance methodvi- straight line method30%25%Add or createRequired:L----- L OIL- C -1--------------ded n42 4G l 3G ll 3.2K/s (3) S21:384G1 17%Due 18 Jan. 23:59Required:a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31January 2020.b) Statement of Financial Position as at 31 January 2020.2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac2020:ParticularsRMCapitalCarriage inCarriage outPurchasesOffice equipment63,0301,620800145.80010,0008,500232,95068,0003,600Motor vehicleSalesWages and salariesRent and ratesLighting and heatingVehicles running cost8,400A 2004,3009,6003,18028.40016,440Telephone expensesGeneral office expensesDebtorsCreditorsProvision for depreciation:Motor vehicle4,2504,000Office equipmentProvision for doubtful debts50013.5706,2003008,0003.8002,900VISionDrawingsCash atCash in handStock as at 1 April 2019Return inwardsReturn outwardsAdditional information as at 31 Mac 2020:i.Stock on hand was valued at RM8,800Rent and rates prepaid RM1,200Wages and salaries RM1,750Depreciation is to be provided as follows:a. Motor vehiclesb. Office equipmentii.ii.iv.50 % reducing balance method20% straight line methodV.The doubtful debts provision is to be maintained at 2% of closing debtors.8Ragea/ Statememt Proit or Loss and Oier Comprenensive income ior the year ended ST Mac2020.2.

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1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM 101,430 RM Capital 1 February 2019 Vehicles at cost Equipment at cost 35,000 80,000 284,680 503,520 Purchases and sales Provision for depreciation at 1 February 2019: Vehicles 21,000 Equipment 35.000 650 Return inward and return outwards Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680,550 18,950 TOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at ii. Insurance prepaid iii. Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 Vehicles straight line method reducing balance method 30% 25% Equipment

1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM 101,430 RM Capital 1 February 2019 Vehicles at cost Equipment at cost 35,000 80,000 284,680 503,520 Purchases and sales Provision for depreciation at 1 February 2019: Vehicles 21,000 Equipment 35.000 650 Return inward and return outwards Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680,550 18,950 TOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at ii. Insurance prepaid iii. Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 Vehicles straight line method reducing balance method 30% 25% Equipment

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

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 24E

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The following trial balance was extracted from the ledger of Juliana at 31 December 2020.JulianaTrial Balance as at 31 December 2020RMRMLand at cost26,000Plant at cost83,000Accumulated Depreciation at 1 January 2020- Plant13,000Office Equipment33,000Accumulated Depreciation at 1 January 2020Office Equipment8,000Receivables198,000Payables52,000Sales763,000Purchases516,000Returns inwards47,000Discount allowed4,000Capital at 1st January 2020230,000Drawings14,000Provision for doubtful debts at 1 January 202023,000Salaries Expense44,000Administration costs38,000Bank75,000Bad debts written off77,000Inventory at 1 January 202084,0001,164,0001,164,000Additional information: Closing inventory is RM74,000. Depreciation on plant is charged at 10% per annum on cost. Depreciation on office equipment is charged at 20% per annum using the reducing balance method. Administration costs include insurance prepaid of RM3,000. Salary accrued amount to RM2,000. The allowance for receivables is to…
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