Aryan Enterprise
Statement of Comprehensive Income for the year ended 31 December 2020
RM
RM
Sales
660,000
Less: Returns inwards
(17,050)
642,950
Cost of Sales
Opening inventories
44,000
Purchases
440,000
Less: Returns outwards
(19,800)
Carriage inwards
4,400
468,600
Less: Closing inventories
 (402,600)
GROSS PROFIT
240,350
Incomes
Rental received (3,020+400)
Interest Received ( 10% x 1,400)
Decrease in allowance for doubtful debt(5%(45,000-300))
Less: Expenses
Bad debts(300+500)
Carriage outwards
Insurance(600 x 12)
Motor expenses
Stationery
Salaries
Telephone & Electricity
Sundry
Discount allowed
Land and building
Depreciation – Furniture (10% x 1,500)
- motor vehicles(20% x 16,000)
Interest on loan (10% x 40,000 x 12/12)
NET LOSS



800
4,000




7,000
2,600
800

150

4,000


5,795
(295,190)
(49,045)
Aryan Enterprise
Statement of Financial Position as at 31 July 2018√
R
RM
M
Non Current Assets
Furniture
25,000
Less: Accumulated depreciation(10,000+150)

14,850
Motor vehicles
80,000
Less: Accumulated depreciation(20,000+3,200)

56,800
Land & building
200,540
Current Assets
Inventories
Account Receivables
Less: Allowance for doubtful debts(5%(45,000-800)
Bank
Cash
66,000


85,000
1,930
RM
272,190
195,720
467,910
Current Liabilities
Account Payables
31,000
Financed by
Capital
Net Loss
Less: Drawings
Non Current Liabilities
Long-term loan loan
251,000
49,045)
(4,000)
197,955

237,955