In: Accounting
3. The following is the trial balance of Silk Store Sdn. Bhd. as at 31 December Year 5.
Dr Cr
RM RM
Bank 6,723
Debtors 18,910
Creditors 12,304
Stock as at 31 December Year 4 40,360
Buildings at cost 100,000
Equipment at cost 45,000
Profit and loss account as at 31 December Year 4 15,286
General reserve 8,000
Foreign exchange reserve 4,200
Authorised and issued share capital 100,000
Purchases 72,360
Sales 135,486
Carriage inwards 1,570
Carriage outwards 1,390
Salaries 18,310
Rates and occupancy expenses 4,235
Office expenses 3,022
Sundry expenses 1,896
Provision for depreciation at 31.12.Year 4:
Buildings 32,000
Equipment 16,000
Directors remuneration 9,500
----------- -----------
323,276 323,276
Additional information:
REQUIRED:
A trading, profit and loss account for the year ended 31 December Year for Silk Store and a balance sheet as at that date.
Q) find the Income statement and statement of financial position