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Q no 2) a) FM enterprises have the following information in unadjusted trial balance for May 2021. The firm needs to adjust some of its
Q no 2) a) FM enterprises have the following information in unadjusted trial balance for May 2021. The firm needs to adjust some of its transactions by using this information. (08) Credit FM Enterprises Unadjusted Trial Balance May 31, 2021 Particulars Debit Cash 13750 Account receivable 5000 Building 40000 Office supplies 2750 Inventory 3550 Account payable Note payable Tax payable Office supplies expense 4500 Capital Dividend 1200 Unearned revenue Revenue Salary expense 15000 Total 85750 6500 21000 1250 30000 10000 17000 85750 Instructions: The Office supplies in hand on May 31, 2021 are Rs. 1950. The tax due for this month is Rs. 2200 but not yet paid. The company has earned revenue of Rs. 4000 that was not received but on May 31 Company received only 60 % of this amount. The company has taken advance payment of Rs. 10000 for the services that was not rendered. On May 31, the services have been provided for Rs. 7000. Prepare Journal, Ledger and adjusted trial balance
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