a) Beta Enterprise

Statement of Profit or Loss for the year ended 31 December 2019

working RM RM RM
Sales 465200
Less: Return Inward -1408
Net Sales 463792

Less: Cost of Good Sold

Opening Inventories 28400
Purchases 261192
Less: Return Outward -920
260272
Add: Carriage Inward 400 260672
289072
Less: Closing Inventories -9000 -280072
183720
Add: Income
Discount Received 3440
187160
Less: Expenditure
Discouunt Allowed 4320
Saleries 46800
Rental 28000
Bad Debts 2000
Utilities (6400+700) 7100
Doubtful Debts 2100
Insurance (3200-200) 3000
Depreciation: Motor Vehicle 12800
Depreciation: Machine 3200
General Expenses 320 -109640
Net Profit 77520

b) Beta Enterprise
Statement of Finance Position as at 31 December 2019
RM RM RM
Accumulated Net Book
Cost
Depreciation Value
Non Current Assets
Machine 64000 -19200 44800
Motor Vehical 32000 -9600 22400
67200
Current Assets
Cash 480
Bank 72000
Trade Receivable 42000
Less: Allowance for Doubtful Debts -2100 39900
Closing Inventories 9000
Prepaid Insurance 200 121580
188780
Equity
Capital as at 1 January 2019 80000
Add: Net Profit 77520
157520
Less: Drawing -640
Capital as at 156880

Current Liabilities
Trade Payable 31200
Accrued Utilities 700 31900
188780
 A) Beta Enterprise
a) Sales Journal
Date Particular Invoice No. RM RM
2020
Jan-03 Trade Receivable: Atan 201 800
Less: Trade Discount 5% -40 760
Jan-04 Trade Receivable: Jovy 202 500
Jan-12 Trade Receivable: Sam 203 4000
Less: Trade Discount 10% -400 3600
Jan-31 Sales Account (Cr) 4860

b) Purchase Journal
Date Particular Invoice No. RM RM
2020
Jan-05 Trade Payable: Muthu 555 3500
Jan-08 Trade Payable: SB Enterprise 321 6000
Less: Trade Discount 10% -600 5400
Jan-31 Purchases Account (Dr) 8900

c) Return Inward Journal

Date Particular Credit No. RM RM
2020
Jan-26 Trade Receivable: Sam 222 100
Less: Trade Discount 10% -10 90
Jan-31 Return Inward Account (Dr) 90

d) Return Outward Journal

Date Particular Credit No. RM RM
2020
Jan-17 Trade Payable: SB Enterprise 313 300
Less: Trade Discount 10% -30 270
Jan-31 Return Outward Account (Cr) 270

B) Raya Trading
General Journal
Date Particular Debit (RM) Credit (RM)
2020
Mar-02 Dr Bank 20000
Cr Capital 20000

Mar-05 Dr Purchases 2500

Cr Trade Payable: Sara Trading 2500

Mar-10 Dr Office Equipment 15000

Cr Bank 1000
Cr Other Payable 14000
15000 15000

Mar-15 Dr Bank 5700

Dr Discount Allowed 300
Cr Trade Receivable 6000
 3) Wong Trading
a) Motor Vehicle Account
Date Particular Amout(RM) Date Particular
2018 2018
Jan-01 Bank 100000 Dec-31 Bal c/d
Jul-01 Bank 80000
180000
2019 2019
Jan-01 Bal b/d 180000 Dec-31 Bal c/d
2020
Jan-01 Bal b/d 180000

b) Accumulated depreciation account

Date Particular Amout(RM) Date Particular

2018 2018
Dec-31 Bal c/d 28000 Dec-31 Depreciation
2019 2019
Dec-31 Bal c/d 64000 Jan-01 Bal b/d
Dec-31 Depreciation
64000
2020

Jan-01 Bal b/d

c) Depreciaion Account
Date Particular Amout(RM) Date Particular
2018 2018
Dec-31 Accumulated Depreciation 28000 Dec-31 SPL
2019 2019
Dec-31 Accumulated Depreciation 36000 Dec-31 SPL
 d) Wong Trading
Extra of the Statement of Profit or Loss for the year ended 31 December 2018
Amout(RM) working RM RM
Less: Expenditure
180000 Depreciation 28000

180000 Extra of the Statement of Profit or Loss for the year ended 31 December 2019
working RM RM
180000 Less: Expenditure
Depreciation 36000

e) Wong Trading
Extra of the Statement of Finance Position as at 31 December 2018
Amout(RM) RM RM
Accumulated
Cost
Depreciation
28000 Non Current Assets
Motor Vehicle 180000 -28000
28000
36000
64000 Extra of the Statement of Finance Position as at 31 December 2019
RM RM
Accumulated
Cost
64000 Depreciation
Non Current Assets
Motor Vehicle 180000 -64000

Amout(RM)

28000

36000
31 December 2018
RM

31 December 2019
RM

cember 2018
RM
Net Book
Value

152000

cember 2019
RM
Net Book
Value

116000