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Sunshine Computer Sales and Services
Adjusted Trial Balance as at 31st December 2019
| Account Titles | Debit (RM) | Credit (RM) |
| Capital | | 114,000.00 |
| Motor vehicle | 45,000.00 | |
| Office equipment | 20,000.00 | |
| Bank | 185,996.67 | |
| Petty cash | 146,646.00 | |
| Sales | | 413,530.00 |
| Return inwards | 9,000.00 | |
| Purchases | 121,000.00 | |
| Return outwards | | 13,000.00 |
| Discount allowed | 6,180.00 | |
| Discount received | | 510.00 |
| Insurance | 2,640.00 | |
| Petrol | 4,000.00 | |
| Salaries | 76,000.00 | |
| Stationary supplies | 3,900.00 | |
| Stationery cost | 1,900.00 | |
| Telephone | 6,154.00 | |
| Upkeep of motor vehicle | 4,000.00 | |
| Water and electricity | 7,000.00 | |
| Interest income | | 30,000.00 |
| Bank loan | | 100,000.00 |
| Furniture | 2,500.00 | |
| Account payable | | 5,000.00 |
| Account receivable | 50,000.00 | |
| Depreciation (furniture) | 20.83 | |
| Depreciation (office equipment) | 1,583.33 | |
| Depreciation of motor vehicle | 2,000.00 | |
| Accumulated depreciation (furniture) | | 20.83 |
| Accumulated depreciation (office equipment) | | 1,583.33 |
| Accumulated depreciation (motor vehicle) | | 2,000.00 |
| Prepaid insurance | | 240.00 |
| Salaries payable | | 15,000.00 |
| Interest expense | 5,333.33 | |
| Accrued interest payable | | 5,000.00 |
| Customer services | | 950.00 |
| TOTAL | 700,854.16 | 700,854.16 |
Prepare the financial statements which include profit&loss statement and statement of financial position.
Answer & Explanation
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