Here is an exercise for you to do SOCI and SOFP. Practice makes perfect!
| TryMyBest | ||
| Trial Balance | ||
| As at 31 December 2018 | ||
| Dr | Cr | |
| Sales and Purchases | 1,680,300 | 4,520,000 |
| Returns | 16,300 | 12,740 |
| Land and building | 1,420,000 | |
| Machinery | 140,000 | |
| Motor vehicle | 260,000 | |
| Office equipment | 26,000 | |
| Opening inventory | 49,260 | |
| Cash at bank | 125,700 | |
| Cash in hand | 14,290 | |
| Receivables and Payables | 343,800 | 89,300 |
| Accruals and Prepayment | 27,730 | 14,100 |
| Sundry debtorr and creditors | 1,550 | 600 |
| Term loan | 120,000 | |
| Rental | 120,000 | 18,000 |
| Salary and wages | 180,000 | |
| Electricity and water | 21,340 | |
| Printing and stationeries | 1,820 | |
| Transportation charges | 14,400 | |
| Interest | 6,560 | 340 |
| Commission | 12,000 | 2,000 |
| Discounts | 18,400 | 4,600 |
| Entertainment | 17,100 | |
| Advertisement | 31,600 | |
| Telephone and internet | 9,080 | |
| Insurance | 10,300 | |
| Bad Debt | 37,550 | |
| Maintenance – building | 153,000 | |
| Mainenance – Motor vehicle | 19,400 | |
| Maintenance – machinery | 9,700 | |
| Drawings | 14,500 | |
| 4,781,680 | 4,781,680 | |
| Closing inventory as at 31 December 2018 is RM52,360 | – | |
or else you can download it here TryMyBest - Final Accounts
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