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    Far110 - Financial Statement

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    Syaza Aisyah
    TMS Boutique had net sales of RM11,565 after returns and discounts, with a gross profit of RM8,868 after deducting cost of goods sold of RM2,696. Total expenses of RM14,800 resulted in a net loss of RM4,581 for the year. As of 30 June 2020, TMS Boutique had total assets of RM198,019 including non-current assets of RM65,300 and current assets of RM132,719. Owner's equity was RM135,019 after accounting for the net loss and drawings. Non-current liabilities included a loan of RM38,000 and current liabilities were accounts payable of RM25,000.

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    Far110 - Financial Statement

    Uploaded by

    Syaza Aisyah
    200 views2 pages
    TMS Boutique had net sales of RM11,565 after returns and discounts, with a gross profit of RM8,868 after deducting cost of goods sold of RM2,696. Total expenses of RM14,800 resulted in a net loss of RM4,581 for the year. As of 30 June 2020, TMS Boutique had total assets of RM198,019 including non-current assets of RM65,300 and current assets of RM132,719. Owner's equity was RM135,019 after accounting for the net loss and drawings. Non-current liabilities included a loan of RM38,000 and current liabilities were accounts payable of RM25,000.

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    FAR110 - FINANCIAL STATEMENT.docx

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    TMS Boutique had net sales of RM11,565 after returns and discounts, with a gross profit of RM8,868 after deducting cost of goods sold of RM2,696. Total expenses of RM14,800 resulted in a net loss of RM4,581 for the year. As of 30 June 2020, TMS Boutique had total assets of RM198,019 including non-current assets of RM65,300 and current assets of RM132,719. Owner's equity was RM135,019 after accounting for the net loss and drawings. Non-current liabilities included a loan of RM38,000 and current liabilities were accounts payable of RM25,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    200 views2 pages

    Far110 - Financial Statement

    Uploaded by

    Syaza Aisyah
    TMS Boutique had net sales of RM11,565 after returns and discounts, with a gross profit of RM8,868 after deducting cost of goods sold of RM2,696. Total expenses of RM14,800 resulted in a net loss of RM4,581 for the year. As of 30 June 2020, TMS Boutique had total assets of RM198,019 including non-current assets of RM65,300 and current assets of RM132,719. Owner's equity was RM135,019 after accounting for the net loss and drawings. Non-current liabilities included a loan of RM38,000 and current liabilities were accounts payable of RM25,000.

    Copyright:

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    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    TMS Boutique

    Statement of Profit or Loss for the year ended 30 June 2020

    RM RM RM
    Sales 11 925
    Less: Sales Return (50)
    Less: Discount Allowed (310)
    Net Sales 11 565

    Less: Cost of Goods Sold


    Purchases 31 580
    Less: Purchase Return (150)
    Less: Discount Received (211)
    Cost of Goods Available for Sales 31 219
    Less: Closing Inventory (28 523) (2 696)
    Gross Profit 8 868

    Other Income
    Commission Received 950
    Rent Revenue 400 1 350

    Less: Expenses
    Utility Bill 150
    Telephone Bill 50
    Salary 3 600
    Rental Expense 11 000
    Total Expense (14 800)
    Net Loss (4 581)
    TMS Boutique

    Statement of Financial Position as at 30 June 2020

    RM RM RM
    ASSETS
    Non-current assets
    Office Equipment 10 000
    Motor Vehicle 48 000
    Furniture 5 000
    Equipment 2 300
    65 300
    Current assets
    Bank 99 431
    Cash 1 340
    Account Receivable 3 425
    Inventories 28 523 132 719
    Total assets 198 019

    Owner’s Equity
    Capital 140 000
    Less: Loss (4 581)
    Less: Drawings (400) 135 019

    Non-current liabilities
    Loan 38 000

    Current liabilities
    Account payable 25 000
    Total owner’s equity and liabilities 198 019

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