Business Ribbons and Crafts

Statement of Financial Position as at 31 December 2017

RM RM RM
Cost Acc.Dep NBV
Fixed Assets
Computer 2,000.00 250.00 1,750.00
Sewing Machine 1,800.00 60.00 1,740.00
3,800.00 310.00 3,490.00
Current Assets
Cash 3,390.00
Inventories 4,100.00
Trade Receivables 320.00
Supplies 20.00
Cash Register Deposit 250.00
Prepaid Rental 1,200.00
9,280.00
12,770.00

Financed By :-
Capital 1,000.00
Retained Earnings 1,380.00
2,380.00

Current Liabilities
Accrual Salaries 90.00
Interest Suspense 300.00

Non-current Liabilities
Cousin Loan 10,000.00
12,770.00
Business Ribbons and Crafts
Statement of Profit or Loss as at 31 December 2017

RM RM RM
Sales 7,720.00
Less : Returns Inwards
Net Sales 7,720.00

Less : Cost Of Goods Sold

Opening Inventory 3,300.00
Purchases 2,900.00
6,200.00
Return Outward
Closing Inventories 4,100.00
2,100.00
Gross Profit 5,620.00

Less : Expenditure
Rental 1,800.00
Salaries 1,600.00
Office Supplies 80.00
Advertisment 150.00
Interest Suspense (10,000*6%)6/12 300.00
Depreciation of Sewing Machine 60.00
Depreciation of Computer 250.00
4,240.00
Net Profit 1,380.00