MOKARA ENTERPRISE

Statement of Profit or Loss for the year ended 31 December 20x2

RM RM
Sales 80,000
Less: Sales return -9000
Less: Discount allowed -560
NET SALES 70,440

Less: COST OF SALES

Opening inventories 1000
Add: Purchases (52,000 - 1,200) 50,800
Less: Discount received -1000
Add: Carriage inwards 360
Less: Purchase returns -13000
Cost of goods available for sale 38160
Less: Closing inventories -15000
Cost of sale 23160

GROSS PROFIT 47,280

Add: OTHER INCOME

Rent revenue (9000 + 3800) *NOTE: Accrued (+) CA 12,800
*NOTE: Prepaid (-) CL
Less: OTHER EXPENSES
Electricity expenses (1800 - 500) 1,300
Telephone expenses 1,200
Interest expenses (3000 + 3000) 6,000
Insurance expenses (1900 - 100) 1,800
Salaries 24,000
Carriage outwards 1,380
Depreciation: Delivery van (30000 x 20%) 6,000 -41,680

NET PROFIT 18,400

Notes:
Straight-line (cost model) => Depreciation = cost x %
Reducing balance => Depreciation = [cost - Acc dep] x %

MOKARA ENTERPRISE
Statement of Financial Position as at 31 December 20x2
RM RM RM
Accumulated
NON CURRENT ASSETS Cost Depreciation Net Book Value
Building 241600 241600
Delivery van 30,000 9000 21000
 262600
CURRENT ASSETS
Inventories 15000
Accounts Receivable 10000
Less: Allowance for impairment of trade receivables -2000
Cash at bank 6600
Cash in hand (4000 - 800) 3200
Prepaid electricity NOTE: EXPENSES 500
Prepaid insurance NOTE: EXPENSES 100
Accrued Rent income NOTE: REVENUE 3800 37200

299800

OWNER'S EQUITY
Capital 200000
Add: Net profit 18400
Less: Drawings (1600 + 1200 + 800) -3600
214800
NON-CURRENT LIABILITIES
Loan from Bank Islam (10 % p.a.) 60000

CURRENT LIABILITIES
Accounts payable 22000
Accrued interest expenses 3000 25000

299800
 AZ MINI MARKET
STATEMENT OF PROFIT OF LOSS FOR YEAR ENDED 30 SEPTEMBER 20X2
PARTICULARS RM RM
SALE S 96800
LESS: DISCOUNTS ALLOWED -700
LESS: OWN(wrong classification)
NET SALES 96100

LESS: COST OF SALE

OPENING INVENTORY 5500
PURCHASE (35800-500) 35300
ADD: DISCOUNT RECEIVED -3600
CARIAGE INWARDS 500
DUTY ON PURCHASES 1500
ADD: CLOSING INVENTORY -8700
30500

GROSS PROFIT 65600

ADD: OTHER INCOME

COMMISION 1200
RENT RECEIVED (600+400) 1000 2200

LESS: OTHER EXPENSES

SALARY 10000
WAGES 14000
Increase in Allowance for impairment of AR (9000x0.06) compare 400 140
INSURANCE(4500/9= 500) (4500-(500*5)) 500*4 2000
MOTOR VEHICLE MAINTAINANCE 3000
INTEREST ON LOAN 1500
CARRIAGE OUTWARDS 2000
Office supplies 1800
TELEPHONE WATER ELECTRICITY BILL (600+180) 780
DEPRECIATION : MACHINERY (10%COST) 10% OF COST / 120000 12000
DEPRECIATION : MOTOR VEHICLES (10% OF ACCUMULATED DEPRECIATIO 800
DEPRECIATION: FIXTURE % FITTINGS (10%COST) 10% OF COST / 15000 750
-48770
NET PROFIT
19030
 AZ MINI MARKET
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20X2
PARTICULARS RM RM RM
COST ACC. DEP NBV
NON CURRENT ASSETS
FREEHOLD LAND 35000 0 35000
MACHINERY (ACC DEPT= 120000-88000+12000) 120000 44000 76000
FIXTURE AND FITTINGS 15000 8150 6850
MOTOR VEHICLES 12000 4800 7200
125050

CURRENT ASSETS
CLOSING INVENTORY 8700
ACCOUNT RECIEVABLE 9000
LESS: ALLOWANCE FOR IMPAIRMENT OF TRADE (400+140) -540
PREPAID INSURANCE 2500
CASH AT BANK (19800-500) 19300
ACCURED RENT INCOME 400

TOTAL ASSET 164410

OWNER'S EQUITY
CAPITAL 115100
ADD: NET PROFIT 19030
LESS: DRAWING (2700+500+500) -3700

NON CURRENT LIABILITY

LOAN FROM BCB BANK 30000

CURRENT LIABILITY
ACCOUNT PAYABLE 3800
ACCURED TELEPHONE WATER BILL 180

164410
Azizi Cost
Motor vehicles 10% 10 years 12000
REDUCING BALANCE (Carrying amount) Acc. Dep. NBV
Depreciation year 1 1200 10800 3252 8748
Depreciation year 2 1080 9720
Depreciation year 3 972 8748

INSURANCE
Azizi - 9 months 4500 9 500

June July August September October November December January February

500 500 500 500 500 500 500 500 500
 CER
Expenses Increase in allowance for impairment of Trade receivables 1610 Statement of profit or los
Expenses Depreciation - P&M 25700
Expenses Depreciation - Vehicles 15300 Sales
CL Accrued rent and rates 1000 Less: Return inwards
CL Accrued electricity and water 4800 Less: Discounts allowed
CA Prepaid salaries and wages 4500 NET SALES
CA Prepaid insurance 5000
Inventories (31 March 20X2) 42800 Less: COST OF SALE
Opening inventories
Add: Purchases
Less: Discounts received
Less: Return outwards
Add: Carriage inwards
Add: Custom duties
NET PURCHASES
COST OF GOODS AVAILABL
Less: Closing inventories
COST OF SALE

GROSS PROFIT

Add: OTHER INCOME

Commission earned

Less: OTHER EXPENSES

Carriage outwards
Salaries and wages (300,00
Electricity and water (65,00
Rent and rates (4,000 + 1,0
Insurance (55,000 - 5,000)
Repairs and maintenance
Increase in allowance for im
Depreciation - P&M
Depreciation - Vehicles

NET PROFIT
 CERIA ENTERPRISE CERIA ENTERPRISE
Statement of profit or loss for the year ended 31 March 20X2 Statement of financial position as at 31 March 20X2
RM RM RM RM
950000 NON-CURRENT ASSETS Cost
Less: Return inwards -44000 Plant and macineries 432000
Less: Discounts allowed -1500 Vehicles 102000
NET SALES 904500 Land and building 625000

Less: COST OF SALE CURRENT ASSETS

Opening inventories 51000 Accounts receivable 187000
Add: Purchases 377000 Less: Allowance for doubtful deb -3610
Less: Discounts received -760 Cash at bank
Less: Return outwards -12200 Prepaid salaries and wages
Add: Carriage inwards 4700 Prepaid insurance
Add: Custom duties 15400 Inventories (31 March 20X2)
NET PURCHASES 384140
COST OF GOODS AVAILABLE FOR SALE 435140
Less: Closing inventories -42800
COST OF SALE -392340 OWNER'S EQUITY
Capital
GROSS PROFIT 512160 Add: Net Profit
Less: Drawings
Add: OTHER INCOME NET CAPTAL
Commission earned 95000
NON- CURRENT LIABILITIES
Less: OTHER EXPENSES Mortgage on land and building
Carriage outwards 5500
Salaries and wages (300,000 - 4500) 295500 CURRENT LIABILITIES
Electricity and water (65,000 + 4800) 69800 Accounts payable
Rent and rates (4,000 + 1,000) 5000 Accrued rent and rates
Insurance (55,000 - 5,000) 50000 Accrued electricity and water
Repairs and maintenance 6,300
Increase in allowance for impairment of Tra 1610
Depreciation - P&M 25700
Depreciation - Vehicles 15300 -474710

NET PROFIT 132450

NTERPRISE
osition as at 31 March 20X2
RM RM
Acc. Dep. NBV
200700 231300
54300 47700
0 625000
904000

183390
41,100
4500
5000
42800 276790

1180790

429640
132450
-3600
558490

450000

166500
1000
4800 172300

1180790