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Answer question 1 (a, b ,c) Thanks Question 1 and Question 2 refer to information given for Cleanshine Products and Services. The unadjusted trial balance
Answer question 1 (a, b ,c) Thanks
Question 1 and Question 2 refer to information given for Cleanshine Products and Services. The unadjusted trial balance of Cleanshine Products and Services for financial year ended 31 December 2020 is presented as below. Cr. RM Cleanshine Products and Services Unadjusted Trial Balance 31 December 2020 Dr. RM Cash 15,370 Accounts Receivable 5,720 Inventory, as at 1 January 2020 2,230 Prepaid Insurance 2,100 Insurance Expense 1,800 Equipment 16,000 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Expense 28,600 Unearned Revenue Revenue Capital Retained Earnings Cost of Goods Sold 21,500 Sundry Expense 1,700 Utilities Expense 13,200 Rent Expense 13,200 121,420 3,200 4,280 2,760 87,200 20,000 3,980 121,420 QUESTION 1 Based on the Unadjusted Trial Balance of Cleanshine Products and Services for the financial year ended 31 December 2020, calculate the following: a. Total assets (6 marks) b. Total liabilities (2 marks) C. Purchase of inventory for the year ended 2020. The beginning inventory for fiscal year 2020 is RM1,380. (4 marks)Step by Step Solution
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