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& Associate Credit (RM) tion Questions Amir Pour Associates is a legal firm. The trial balance of on December 31, 2018 is as follows: Accounts Debit (RM) Cash 148,500 Accounts Receivables 277,500 Office Supplies 4,500 Prepaid Insurance 18,000 Office Equipment 75,000 Accumulated Depreciation office equipment 30,000 Building 187,500 Accumulated Depreciation - building 97,500 Accounts Payable 285,000 Unearned revenue 33,750 Capital 219,750 Drawings 48,750 Service revenue 232,500 Wages Expense 9,750 Total 898,500 898,500 The following adjustments are not taken into account in the accounting period ended 31 December 2018 i. Supplies on hand on December 31, RM3,375. ii. Depreciation of office equipment is at rate of 10% per year based on the Straight Line Method. Depreciation of building is at rate of 5% on book value. iii. Paid supplier on account, RM3,750. iv. Unearned revenue represented the receipt during November which is in ad- vance for services to be provided in three months. v. Fees earned but unbilled on December 31 are RM37,500. vi. Unpaid wages accrued on December 31 are RM9,375. vii . Prepaid insurance represented for premiums on policies for the next 6 months starting October 1, 2018 viii . The owner withdrew RM7,500 in cash for personal use. Instruction a. Prepared the adjusting journal entries, b: Prepare an adjusted trial balange, as of December 31, 209 2. Prepare the turned statements 08 at 31 December 2015 Scanned with CamScanner & Associate Credit (RM) tion Questions Amir Pour Associates is a legal firm. The trial balance of on December 31, 2018 is as follows: Accounts Debit (RM) Cash 148,500 Accounts Receivables 277,500 Office Supplies 4,500 Prepaid Insurance 18,000 Office Equipment 75,000 Accumulated Depreciation office equipment 30,000 Building 187,500 Accumulated Depreciation - building 97,500 Accounts Payable 285,000 Unearned revenue 33,750 Capital 219,750 Drawings 48,750 Service revenue 232,500 Wages Expense 9,750 Total 898,500 898,500 The following adjustments are not taken into account in the accounting period ended 31 December 2018 i. Supplies on hand on December 31, RM3,375. ii. Depreciation of office equipment is at rate of 10% per year based on the Straight Line Method. Depreciation of building is at rate of 5% on book value. iii. Paid supplier on account, RM3,750. iv. Unearned revenue represented the receipt during November which is in ad- vance for services to be provided in three months. v. Fees earned but unbilled on December 31 are RM37,500. vi. Unpaid wages accrued on December 31 are RM9,375. vii . Prepaid insurance represented for premiums on policies for the next 6 months starting October 1, 2018 viii . The owner withdrew RM7,500 in cash for personal use. Instruction a. Prepared the adjusting journal entries, b: Prepare an adjusted trial balange, as of December 31, 209 2. Prepare the turned statements 08 at 31 December 2015 Scanned with CamScannerStep by Step Solution
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