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Additional information was available after the Financial Statements in Part A were completed. Therefore, critically analyze the effect of each of the following items
Additional information was available after the Financial Statements in Part A were completed. Therefore, critically analyze the effect of each of the following items separately on the performance (net income/loss) and accounting equation of AKE: Depreciation of both office equipment and delivery van for a total of RM35,000 Unpaid salaries of RM20,000. a) b) c) The available balance of office supplies in hand was RM300. d) A total of RM7,800 of the unearned revenue was realized. e) A sum of RM40,500 insurance already expired. f) g) h) The billing department failed to send invoices to clients for a total sum of RM24,400. A new rental service for drying machines was not recorded for the sum of RM15,800. Suppliers invoices amounting to RM135,000 were misplaced and only recently discovered.
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