FINANCIAL ACCOUNTING AND REPORTING I DAC1053

ABC
Statement of Comprehensive Income for the year ended 31 December 20XX
RM RM
Sales xxx
less: Return inwards (xxx)
XXX

Less: Cost of goods sold

Opening inventory xxx
Add: Purchase xxx
Carriage inwards xxx
Duties on purchase xxx
Less: Return outwards (xxx)
Cost of goods sold available for sale xxx
Less: Closing inventory (xxx)
xxx
GROSS PROFIT/ (LOSS) XXX

Add: Income
Discount received xxx
Dividend received xxx
Rent received xxx
Commission received xxx
XXX
Less:
Selling & Distributive Expenses
Carriage outwards xxx
Advertising xxx
Salesman commission xxx
Repairs to delivery van xxx
Delivery expenses xxx
Selling expenses xxx

Administrative & General Expenses

Wages & Salaries expenses xxx
Water, electricity and telephone xxx
Rent expenses xxx
Stationery xxx
Insurance xxx
Postage expenses xxx
Maintainance expenses xxx
General expenses xxx
Depreciation on building xxx
Depreciation on office equipment xxx

Financial Expenses
Interest expense xxx
Discount allowed xxx
Bad debt xxx
Doubtful debts xxx
Bank charges xxx
Loss on disposal NCA xxx
XXX
NET PROFIT/ (LOSS) XXXX
FINANCIAL ACCOUNTING AND REPORTING I DAC1053

ABC
Statement of Financial Position as at 31 December 20XX

RM RM RM
Non-Current Asset
Land xxx
Building xxx
Less : Accumulated depreciation for building (xxx)
Net book value xxx
Office equipment xxx
Less : Accumulated depreciation for office equipment (xxx)
Net book value xxx
Invenstment xxx
Goodwill xxx
XXX

Current Asset
Inventory xxx
Account receivables (debtor) xxx
Less : Prov. for doubtful debts (xxx)
Net of account receivables xxx
Cash in hand xxx
Bank xxx
Accrued income xxx
Prepaid expenses xxx
XXX
TOTAL ASSETS XXXX

Owner's Equity
Capital xxx
Add: Net Profit (Loss) xxx
xxx
Less: Drawings (xxx)
XXX

Non-Current Liability
Long term loan xxx
Mortgage on premises xxx
XXX
Current Liability
Account payables (Creditors) xxx
Short term loan xxx
Bank overdraft xxx
Accrued expenses xxx
Prepaid income xxx
XXX
TOTAL EQUITY AND LIABILITIES XXXX