QUESTION 2 The following selected accounts with their current balances as at 31 March 2021...
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Accounting
QUESTION 2 The following selected accounts with their current balances as at 31 March 2021 were extracted from Affiqque Corporation Sdn Bhd. RM
Sales
237,800
Rent revenue
40,000
Cost of merchandise sold
106,250
Cash
128,970
Accounts receivable
58,420
Merchandise inventory
42,890
Office supplies
18,500
Store equipment
140,000
Accumulated depreciation store equipment
37,910
Accounts payable
85,970
Unearned rent
32,000
Notes payable (due in 2 years)
79,780
Afiq, capital 1 March 2021
78,120
Additional information: 1. Selling expenses for the month of March 2021 was RM58,280. 2. Administrative expenses for the month of March 2021 was RM38,270. REQUIRED:
(a)
Prepare a single step Statement of Profit or Loss and Other Comprehensive Income for the month of March 2021.
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