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PART B: Additional information was available after the Financial Statements in Part A were completed. Critically analyse, the effect of each of the following items
PART B: Additional information was available after the Financial Statements in Part A were completed. Critically analyse, the effect of each of the following items separately on the affected accounts, net income/loss, and accounting equation of AKE: (a) I Depreciation to both office equipment and delivery van for a total of RM35,000 a (6) Unpaid salaries of RM20,000. (C) Available balance of office supplies in hand was RM300. (d) A total of RM7,800 of the uneamed revenue was realized. (e) A sum of RM40,500 insurance was not recorded. (f) The billing department failed to send invoices to clients for a total sum of RM24,400 A new rental expense for equipment machines was journalized as a debit to office equipment for RM15.800 and a credit to Account Payable for RM15,800. (h) Suppliers invoices amounting to RM135,000 were journalized as a debit to Merchandise Inventory for RM135,000 and a credit to Account Payable for RM153,000 PART B: Additional information was available after the Financial Statements in Part A were completed. Critically analyse, the effect of each of the following items separately on the affected accounts, net income/loss, and accounting equation of AKE: (a) I Depreciation to both office equipment and delivery van for a total of RM35,000 a (6) Unpaid salaries of RM20,000. (C) Available balance of office supplies in hand was RM300. (d) A total of RM7,800 of the uneamed revenue was realized. (e) A sum of RM40,500 insurance was not recorded. (f) The billing department failed to send invoices to clients for a total sum of RM24,400 A new rental expense for equipment machines was journalized as a debit to office equipment for RM15.800 and a credit to Account Payable for RM15,800. (h) Suppliers invoices amounting to RM135,000 were journalized as a debit to Merchandise Inventory for RM135,000 and a credit to Account Payable for RM153,000
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