Question 2 Following Is The Trial Balance Of Luxi Trading As On 31st May 2022 Debit Rm Purchases And Sales Beginning In 1 (80.61 KiB) Viewed 36 times
Question 2 Following Is The Trial Balance Of Luxi Trading As On 31st May 2022 Debit Rm Purchases And Sales Beginning In 2 (46.4 KiB) Viewed 36 times
Question 2 Following is the trial balance of Luxi Trading as on 31st May 2022: Debit RM Purchases and sales Beginning Inventory Capital Bank Overdraft Cash Discounts Returns inwards Return outwards Carriage outwards Rent and Insurance Provision for bad and doubtful debts Fixtures and Fittings Delivery van Debtors and Creditors Drawings Wages and salaries General office expenses 22,860 5,160 90 1,440 810 2,160 1,740 1,200 2,100 11,910 2,880 8,940 450 61,740 Credit RM 41,970 7,200 4,350 930 570 660 6,060 61,740
Additional Information: a) Inventory as at 31st May 2022 was RM4, 290. b) Wages and salaries accrued at 31st May 2022 is RM210. c) Office Expenses owing RM20. d) Rent prepaid RM180. e) Increase the provision for bad and doubtful debts by RM150 to RM810 REQUIRED: (c) Prepare an income statement for the year ended 31st May 2022. (10 Marks) (d) A balance sheet as that date 31st May 2022. (20 Marks)
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