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QUESTION 1 Lampam Dsungai Bhd is a company whose main business is to publish and sell printed materials such as books and magazines. The partial
QUESTION 1 Lampam Dsungai Bhd is a company whose main business is to publish and sell printed materials such as books and magazines. The partial statement of financial position of Lampam Dsungai Bhd as at 30 September 2022 shows the following: Following are transactions related to current liabilities and equity that took place during the final quarter of 2022. was paid on 20 December. 20 Received sixty percent (60\%) of the invoice of Sebarau Biru Sdn Dec. Bhd from the purchased of 11 December. 28 Paid gross salaries of RM750,000 to employees. Deductions from Dec. the salaries include the following: - Employees' contribution to EPF of 10% of the gross salary - Zakat amounting to RM16,800 - Health insurance premium of RM19,200. 30 Declared a dividend of RM0.20 for each share outstanding. Dec. REQUIRED: (a) Prepare journal entries to record all the above transactions. (b) Prepare adjusting journal entry(ies) on 31 December 2022
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