Statement of Affairs as at

1-Jul-12
Debit
Credit
RM
RM
Fixture and fittings
15,000
Motor vehicles
60,000
Cash at bank
1,500
Account receivable
3,975
Inventory
3,750
Account payable
7,500
Loan from MBB finance
30,000
Accum. Depn. FF *
Accum. Depn. MV **
Allow. For doubtful debts ***
Capital
46,725
84,225
84,225

30-Jun-13
Debit
Credit
RM
RM
15,000
63,900
2,250
5,100
7,500
6,000
3000
12325
255
72,170
93,750
93,750

* 15,000 20% = 3,000

** (60,000 20%) + (3,900 20%

5
)
12

= 12,325

*** 5,100 5% = 255

Statement of Profit or Loss for the year ended 30 June 2013
RM
Capital as at 30 Jun 2013
Add: Drawings [(100 x 12 ) + 300 ]
Less: Additional Capital
Capital as at 1 July 2012
Profit for the year
Statement of Affairs as at
1-Nov-12
Debit
Credit
RM
RM
Office equipment
2,000
Motor Van
15,000
Inventories
4,250
Receivables
850
Cash and bank
7,250
Prepaid insurance
Payables
4,500
Accrued rental
Accrued electricity
Accum. Depn. MV
Allow. for doubtful debts
Capital
24,850
29,350
29,350

3,900
46,725

RM
72,170
1,500
73,670
50,625
23,045

31-Oct-13
Debit
Credit
RM
RM
1,900
15,000
7,350
1,150
8,800
250
1,500
1,350
150
1,500
69
29,881
34,450
34,450

Statement of Profit or Loss for the year ended 31 October 2013

RM
RM
Capital as at 31 October 2013
29,881
Add: Drawings
2,250
32,131
Less: Additional Capital
7,500
Capital as at 1 November 2012
24,850
32,350
Loss for the year
-219
Statement of Financial Position as at 31 October 2013
Non-current assets
RM
RM
RM
Office equipment
2,000
Less: Accum. Depn
100
1,900
Motor Van
15,000
Less: Accum. Depn
1,500
13,500
15,400
Current assets
Inventories
Receivables
Less: Allow. For doubtful debts
Cash and bank
Prepaid insurance

1,150
69

Less: Current liabilities

Payables
Accrued rental
Accrued electricity
Net current assets

1,500
1,350
150

7,350
1,081
8,800
250
17,481

3,000
14,481
29,881

Financed by:
Capital as at 1 November 2012
Add: Additional capital
Less: Drawings
Loss for the year

24,850
7,500
32,350
2,250
219

2,469
29,881

Machinery
Office equipment
Inventories
Trade receivables
Prepaid expenses
Bank balance
Trade payables
Accrued expenses
Allow. For doubtful debts
Accum. Depn. M
Accum. Depn. OE
Capital

Statement of Affairs as at
1-May-13
Debit
Credit
RM
RM
54,400
4,800
1,040
3,680
600
16,000
4,320
360
75,840
80,520
80,520

30-Apr-14
Debit
Credit
RM
RM
54,400
7,800
3,520
4,480
600
22,336
4,960
464
520
8,160
1,560
77,472
93,136
93,136

Statement of Profit or Loss for the year ended 30 April 2014

RM
RM
Capital as at 30 April 2014
77,472
Add: Additional capital
3,000
80,472
Less: Drawings
15,200
Capital as at 1 May 2013
75,840
91,040
Loss for the year
-10,568