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Question 1 Street Services Enterprise is a partnership business, owned by Mr. Ghazali and Mr. Sabudin. The main activity of this business is to
Question 1 Street Services Enterprise is a partnership business, owned by Mr. Ghazali and Mr. Sabudin. The main activity of this business is to provide repair and maintenance services for motor vehicles such as buses, vans, cars, lorries and motorcycles. The information below is part of the list of account balances from the Street Services Enterprise business books as at 31 December 2021. Street Services Enterprise List of Accounts Accounts Cash at bank Cash in hand Air Cond's Maintenance expenses Advertising expense Return inwards Return outwards Capital Van Land and building Office equipment Utilities Drawings Accounts payable RM 51,000 2,000 2,700 3,500 2,000 3,000 200,000 89,000 250,000 44,000 5,000 1,000 78,000 Accounts receivable 6,000 Wages and salary 20,000 Inventory (1 January 2021) 21,000 Purchase 119,000 Sales services 310,430 Discount allowed 5,250 Discount received 6,070 7% loan from AEON Bank 30,000 Insurance expenses 7,000 Commission received 2,800 General expenses 1,850
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