Quesfion 2 The following balances were extracted from the books of VE Enterprise on 31...
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Quesfion 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Adcitional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the yecr ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& Fitlings: 10% using straight line method b. Molor vehicles:15\% using reducing balance melhod. 3. Electricity bils was paid in advanced by RM500. Meanwhile RM40D commission cre not received yet. 4. One of the customers Amri Sport Enterprise was declare bankupt and unable to pay the debt amount RM700 5. The provision for doubllul debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are acerued by RM140. 2 7. 'Purchases' include goods valued of RM1,040 that were withctrwn by Azwin for her own personal use. Required: a) Prepare Income Statement for the year ended 31 December 2021 b) Prepare Statement of Financial Position as at 31 December 2021
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Quesfion 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Adcitional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the yecr ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& Fitlings: 10% using straight line method b. Molor vehicles:15\% using reducing balance melhod. 3. Electricity bils was paid in advanced by RM500. Meanwhile RM40D commission cre not received yet. 4. One of the customers Amri Sport Enterprise was declare bankupt and unable to pay the debt amount RM700 5. The provision for doubllul debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are acerued by RM140. 2 7. 'Purchases' include goods valued of RM1,040 that were withctrwn by Azwin for her own personal use. Required: a) Prepare Income Statement for the year ended 31 December 2021 b) Prepare Statement of Financial Position as at 31 December 2021 