Tutorial 4 – Chapter 7 Submission date: 14 January 2021 before 5.00pm 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM RM Capital 1...

Extracted text: Tutorial 4 – Chapter 7 Submission date: 14 January 2021 before 5.00pm 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM RM Capital 1 February 2019 Vehicles at cost Equipment at cost Purchases and sales Provision for depreciation at 1 February 2019: 101,430 35,000 80,000 284,680 503,520 Vehicles Equipment 21,000 35,000 Return inward and return outwards 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 650 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 95,370 1,240 83,210 14,880 680,550 680,550 18,950 TOTAL Additional information as at 31 January 2020: No. Particulars i. Stock valued at ii. Insurance prepaid ii. Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400 620 Vehicles - straight line method Equipment - reducing balance method 30% 25% Required: a) Statement Profit or Loss and Other Comprehensive Income for the year ended 31 January 2020. b) Statement of Financial Position as at 31 January 2020.