The following trial balance was extracted from the books of Tiffany & Co. at the close business on 31 December 2011.
Additional information:-
- Inventory 31 Dec 2011 is RM2,400
- Wages and salaries accrued RM340
- Van running cost owing RM72
- Rent prepaid is RM230
- Increase the provision for doubtful debts by RM91
- Depreciation:-
- Office furniture RM380
- Delivery van RM1,250
Prepare the Trading, Profit and Loss Account for the year ended 31 December 2011 and the Balance Sheet (extract) as that date.
(20 marks, 2012 Q7)
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