Question
As at 31 December 2015, Halawah Marketing Enterprise provided the information below: Halawah Marketing Enterprise Unadjusted Trial Balance 31 December 2015 Description Cash Accounts receivable
As at 31 December 2015, Halawah Marketing Enterprise provided the information below: Halawah Marketing Enterprise Unadjusted Trial Balance 31 December 2015 Description Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accumulated depreciation - Office Equipment Accounts payable Capital Revenue Wages expense Other operating expenses Debit (RM) Credit (RM) 74,330 8,700 3,550 6,720 120,000 54,000 9,800 110,000 118,900 47,700 31,700 292,700 292,700 The following information related to year-end adjustments: 1. Depreciation of office equipment for the year, RM18,000. 2. Insurance premium expired during the year were RM2,240. 3. Office supplies on hand at 31 December 2015 were RM1,550. 4. Wages accrued at 31 December 2015 were RM1,000. 5. Unbilled customer at the end of the year amounted to RM3,100. REQUIRED: (a) Prepare an Income Statement for the year ended 31 December 2015 (provide your answer in the Appendix 2(A). (4 Marks) (b) Prepare a Balance Sheet for the business as at 31 December 2015 (6 Marks)
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