SOLUTION: BCU Prepare Statement of Profit and Loss and Also Financial Position Excel Task

Attached. Please let me know if you have any questions or need revisions.Coveed Sanitize Sdn. Bhd.Statement of Profit or LossFor the year ended 31st December 2020RMRMRevenue2.269.500Cost of Sales1281590Gross Profit987.910Operating ExpensesCarriage outwards60.900Rental127.000Directors’ remuneration100.000Depreciation – plant and machinery 160.000Depreciation – delivery truck35.000Depreciation – fixtures and fittings56.000Insurance41.800Salaries and emoluments415.000EPF and SOCSO31.780Audit fees18.000Marketing and advertisements22.100Utilities27.430Telephone and internet5.400Entertainment10.800Bad debt1.860Provision for doubtful debt4.2401.117.310Operating Profit-129.400Other incomesRental42.000Commission income1500057.000Profit before tax-72.400Income Tax42.144Net profit-114.544Coveed Sanitize Sdn. Bhd.Statement of Financial PositionFor the year ended 31st December 2020RMRMAssetsNon-Current AssetsLand and building1.000.000Plant and machinery720.000Delivery truck280.000Fixtures and fittings196.000Total Non-Current Assets2.196.000Current AssetsInventoryAccounts receivableCommissions receivableSalaries prepaidCash at bankCash in handTotal Current AssetsTotal AssetsEquityOrdinary share capitalGeneral reservesRetained profitTotal EquityLiabilitiesCurrent LiabilitiesAccounts payableRental prepaidProvision for doubtful debtSecretarial feesEntertainmentTotal Current LiabilitiesNon-current liabilitiesTotal Liabilitie…

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