SAMAD & CO.

SDN BHD
TRIAL BALANCE ON 31 DECEMBER 2018
ACCOUNT DEBIT (RM) CREDIT (RM)
Capital 470,612
Motor Vehicles 120,000
Land & Building 300,000
Fixtures & Fittings 80,000
Accumulated Depreciation Motor Vehicle 48,000
Accumulated Depreciation Fixtures & Fittings 40,000
Ultilities 10,200
Water & Electricity 12,860
Bad Debts 11,254
Allowance for Doubtful Debts 1,800
Opening Inventory 31,000
Discount Received 4,136
Discount Allowed 3,310
Purchase 80,000
Sales
Cash at Bank 47,040 140,000
Cash in Hand 16,112
Drawings 2,000
Account Payable
Account Receivable 36,240 60,000
Insurance 16,252
Salaries 19,600
Carriage Expenses 1,200
Rental Income
Import Duties 8,000 24,000
Advertising 5,000
Interest Revenue
Return Outwards 11,320
Return Inwards 1,000 1,200

801,068 801,068
 ADJUSTING JOURNAL ENTRIES

12/31/2018 Inventory 30,000

Inventory 30,000
30,000 30,000

12/31/2018 Water & Electricity 500

W&E Payable 500
500 500

12/31/2018 Interest Receivable 1,400

Interest Revenue 1,400
1,400 1,400

12/31/2018 Drawings 1,000

Cash in hand 1,000
1,000 1,000

12/31/2018 Carriage Inwards 600

Carriage expenses 600
600 600

12/31/2018 Salaries 800

Salary Payable 800
800 800

12/31/2018 Depreciation 28,000

Acc Dep Motor Vehicle 24,000
Acc Dep Fixtures & Fittings 4,000
28,000 28,000

12/31/2018 Doubtful Debt 12

Allowance for Doubtful Debt 12
12 12
 SAMAD & CO. SDN BHD
ADJUSTED TRIAL BALANCE ON 31 DECEMBER 2018
DEBIT CREDIT ADJUSTMENT DEBIT CREDIT
ACCOUNT
RM RM DEBIT CREDIT RM RM
Capital 470,612 470,612
Motor Vehicles 120,000 120,000
Land & Building 300,000 300,000
Fixtures & Fittings 80,000 80,000
Account Depreciation - Motor Vehicle 48,000 24,000 72,000
Account Depreciation - Fixtures & Fittings 40,000 4,000 44,000
Utilities 10,200 10,200
Water & Electricity 12,860 500 13,360
Bad Debts 11,254 11,254
Allowance for Doubtful Debts 1,800 12 1,812
Opening Inventory 31,000 31,000
Discount Received 4,136 4,136
Discount Allowed 3,310 3,310
Purchases 80,000 80,000
Sales 140,000 140,000
Cash at Bank 47,040 47,040
Cash in Hand 16,112 1,000 15,112
Drawings 2,000 1,000 3,000
Account Payable 60,000 60,000
Account Receivable 36,240 36,240
Insurance 16,252 16,252
Salaries 19,600 800 20,400
Carriage Expenses 1,200 600 600
Rental Income 24,000 24,000
Import Duties 8,000 8,000
Advertising 5,000 5,000
Interest Revenue 11,320 1,400 12,720
Return Outwards 1,200 1,200
Return Inwards 1,000 1,000
Water & Electricity Payable 500 500
Interest Receivable 1,400 1,400
Carriage Inwards 600 600
Salary Payable 800 800
Depreciation 28,000 28,000
Doubtful Debts 12 12
801,068 801,068 32,312 32,312 831,780 831,780
 The Book of Samad & Co. Sdn. Bhd
Statement of Profit or Loss and Other Comprehensive Income
for the year ended 31 December
RM RM RM
Sales 140,000
Less:Return inwards -1,000
139,000
Purchases
purchases 80,000
(+)opening inventory 31,000
111,000
(-)closing inventory -30,000
81,000
(+)Import duties 8,000
(-)Return outwards -1,200
(+)Carriege inwards 600
COSG 88,400
Gross profit 50,600
Other comprehensive income 4,136
Discount received 24,000
Rental income 12,720
Interest revenue 40,856
91,456
Expenses
Utilities 10,200
water and electricity 13,360
Bad debts 11,254
Insurance 16,252
salaries 20,400
Carriage expenses 600
Advertising 5,000
Depreciation 28,000
Doubtful debts 12
Discount allowed 3,310
-108,388
Net loss -16,932
 Samad & Co. Sdn.Bhd
Statement of financial position on 31 Dec 20x8
accumulated net book
TRANSACTION cost
depreciation value
NON-CURRENT ASSETS
fixtures and fittings 80,000 44,000 36,000
motor vehicle 120,000 72,000 48,000
land and building 300,000 300,000
384,000
CURRENT ASSETS
cash 15,112
bank 47,040
closing inventory 30,000
account receivable 36,240
less: allowance for doubtful debt -1,812
interest receivable 1,400
127,980
511,980

OWNER EQUITY
Capital 470,612
less: Drawings -3,000
Net loss -16,932
450,680

CURRENT LIABILITIES
account payable 60,000
Accrued water and electricity 500
Accrued salary 800 61,300
511,980