ABFA1173 Principles of Accounting 2 Section 2: RM Question 1: The following is an extract of the Statement of Financial Position of Armani Sdn Bhd: Statement of Financial Position (extract) as at 30 June year 1 RM Current assets Prepaid advertising expenses 1,280 Accrued rental received 2,000 Current liability Unpaid electricity expenses 120 Receipts and payments account (extract) for the year ended 30 June year 2 Receipts RM Payments Rent received 10,000 Advertising 600 Electricity 1,000 Additional information: 1. Advertising in arrears as at 30 June year 2 amounted to RM200 2. Electricity bill of RM150 has been paid in advance as at 30 June year 2 3. According to the rental agreement, the monthly rental is RM1,000 per month. As at 30 June year 2, 4 months' rental has yet to be received Required: Prepare and balance off the following accounts for the year ended 30 June year 2 (a) Prepaid advertising expenses account (b) Advertising expenses account (c) Accrued advertising account (d) Accrued rental received account (c) Rental received account (f) Accrued electricity account (g) Electricity account (h) Prepaid electricity account