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prepare general journal iii. Additional Information for Adjusting Entries The following information were furnished on 31 January 2020: a) Insurance on building amounting to RM2,400
prepare general journal
iii. Additional Information for Adjusting Entries The following information were furnished on 31 January 2020: a) Insurance on building amounting to RM2,400 paid by cheque (cheque no: 760251) on 5th January 2020 for one-year insurance premium was found not recorded in the books. b) Monthly rental is RM2,000. The record of MSG Enterprise shows that the last payment made is only for November 2019. c) Telephone bill RM114 still not yet paid. d) Repayment of loan from RHB Bank is payable every month and the amount paid is inclusive of interest charged at 5.5% per annum. e) Bad debts to be written-off from Prince International School amounted to RM100. f) Allowance for doubtful debts is to be provided at 5% on net trade receivables. Interest on fixed deposit is yet to be received for the month of January 2020. h) Depreciation on all non-current assets for the month of January 2020 are: Office equipment RM225.00 Motor vehicles RM1,125.00 Office furniture RM161.67 i) Closing inventory was valued at RM30,000. iii. Additional Information for Adjusting Entries The following information were furnished on 31 January 2020: a) Insurance on building amounting to RM2,400 paid by cheque (cheque no: 760251) on 5th January 2020 for one-year insurance premium was found not recorded in the books. b) Monthly rental is RM2,000. The record of MSG Enterprise shows that the last payment made is only for November 2019. c) Telephone bill RM114 still not yet paid. d) Repayment of loan from RHB Bank is payable every month and the amount paid is inclusive of interest charged at 5.5% per annum. e) Bad debts to be written-off from Prince International School amounted to RM100. f) Allowance for doubtful debts is to be provided at 5% on net trade receivables. Interest on fixed deposit is yet to be received for the month of January 2020. h) Depreciation on all non-current assets for the month of January 2020 are: Office equipment RM225.00 Motor vehicles RM1,125.00 Office furniture RM161.67 i) Closing inventory was valued at RM30,000Step by Step Solution
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