Transaction Assets = liabilities +

office furniture Motor Account

Apr-19 cash + + + = +
equipment & fittings Vehicle Payables
1 41,000.00
bal. 41,000.00
2 (500.00) + 500.00
bal. 40,500.00 + 500.00 =
5 (2,500.00) + 5,000.00 = 2,500.00
bal. 38,000.00 + 5,500.00 = 2,500.00 +
6 1,900.00 1,900.00
bal. 38,000.00 + 5,500.00 + 1,900.00 = 4,400.00 +

7 (700.00)

bal. 37,300.00 + 5,500.00 + 1,900.00 = 4,400.00 +

8 (5,250.00) + 5,250.00
bal. 32,050.00 + 5,500.00 + 1,900.00 + 5,250.00 = 4,400.00 +

15 (200.00) =

bal. 31,850.00 + 5,500.00 + 1,900.00 + 5,250.00 = 4,400.00 +

20 (1,500.00) =

bal. 30,350.00 + 5,500.00 + 1,900.00 + 5,250.00 = 4,400.00 +

21 (1,900.00) = (1,900.00)
bal. 28,450.00 + 5,500.00 + 1,900.00 + 5,250.00 = 2,500.00 +

22 2,300.00 =

bal. 30,750.00 + 5,500.00 + 1,900.00 + 5,250.00 = 2,500.00 +

 owners Equity

capital

41,000.00
41,000.00

41,000.00

41,000.00

41,000.00
(700.00)
Rental
40,300.00

40,300.00
(200.00)
Telephone Expenses
40,100.00
(1,500.00)
Drawings
38,600.00

38,600.00
2,300.00
Revenues
40,900.00
 Worksheet as at 31 December 2019

Unadjusted trial balance Adjusting enteris

Accounts
Debit Credit debit credit
Capital 121,050
Drawings 8,000
Cash at Bank 3,000
Cash in hand 400
Accounts Payable 12,000
Account Receiveable 30,000
Inventory as at 1st January 2019 23,000
Motor Vehicle 40,000
Office Equipment 60,000
sales 130,000
accumulated depriciation- motor vehicle 8,000 4,000
accumulated depriciation- office equipment 12,000 6,000
Provision For Doubtful debts 5,000 200
purchases 90,000
returns 600 300
carriage inwards 300
Motor running expenses 1,000 200
Rent expenses 20,000 1,000
telephone charges 400
wages and salaries expenses 12,000 140
insurance expenses 3,000
postage and stamps expenses 100
office expenses 1,300
sundry expenses 300
dividend income 2,000
interest income 3,000
discount 200 250
wages and salaries payable 140
prepaid rental 1,000
motor running payable 200
doubtful debt 200
depreciation motor vehicle 4,000
depreciation office equipment 6,000
Total 293,600 293,600 11,540 11,540
Adjusted trial balance
Debit Credit
121,050
8,000
3,000
400
12,000
30,000
23,000
40,000
60,000
130,000
12,000
18,000
5,200
90,000
600 300
300
1,200
21,000
400
12,140
3,000
100
1,300
300
2,000
3,000
200 250
140
1,000
200
200
4,000
6,000
305,140 305,140
 Statement of Comprehensive Income for the year ended 31 december 2019

RM RM RM
Net Sales 129,200

sales 130,000
(-) sales return (200)
(- )sales discount (600) (800)

Less Cost Of Good Sold 82,750

Opening Inventory 23,000

Add Net Purchase 89,750
Purchases 90,000
(-) Purchase Return (300)
(-) Purchase Discount (250)
(+) Carriage Inwards 300
Cost of Goods available for sales 112,750
Less Closing Inventory (30,000)
Gross Profit 46,450
Add Other Income
(+) Dividend income 2,000
(+) Interest Income 3,000 5,000
51,450
Less Operating Expenses (49,640)
Motor running expenses (1,200)
Rent expenses (21,000)
telephone charges (400)
wages and salaries expenses (12,140)
insurance expenses (3,000)
postage and stamps expenses (100)
office expenses (1,300)
sundry expenses (300)
doubtful debt (200)
depreciation motor vehicle (4,000)
depreciation office equipment (6,000)
Net Profit 1,810
 Statement Of Financial Position as at 31 December 2019

RM RM RM
Current Assets
Cash at Bank 3,000
Cash in hand 400
Inventory 30,000
Account Receiveable 30,000
Less Provision of doubtful debt (5,200) 24,800

prepaid rental 1,000

Total Current Assets 59,200

Non Current Assets

Motor Vehicle 40,000
accumulated depriciation- motor vehicle (12,000) 28,000

Office Equipment 60,000

accumulated depriciation- office equipment (18,000) 42,000
Total Non Current Assets 70,000
Total Assets 129,200

Current Liabilities
Accounts Payable (12,000)
wages and salaries payable (140)
motor running payable (200) (12,340)
Net Assets 116,860

Owners Equity
Capital 121,050
Net Profit 1,810
122,860
Less Drawings (8,000)
Closing Capital as at 31 December 2019 114,860