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Question 2 (20 marks) Danny Hardware compiled a year end unadjusted Trial Balance as at September 30 as follows: Danny Hardware Unadjusted Trial Balance as
Question 2 (20 marks) Danny Hardware compiled a year end unadjusted Trial Balance as at September 30 as follows: Danny Hardware Unadjusted Trial Balance as at September 30, 2021 Debit Credit Accounts Payable 29,000 Accounts Receivable 0 Accumulated Depreciation 0 Danny, Capital 300,000 Bank Loan 230,000 Building 500.000 Cash at bank 32,000 Electricity Expense 1.000 Inventory 50,000 Motor Vehicle 50,000 Office Supplies 5.000 Prepaid Rent 6.000 Salaries Payable 0 Salary Expenses 2.000 Sales 85.000 Uneamed Revenue 5.000 Utilities Payable 0 Withdrawals 3,000 649,000 649,000 The year end adjustments are as follows: i. Depreciation of Motor Vehicle during the year, RM5,000. ii. Unpaid electricity on September 30 were RM600. Unpaid salaries, RM500 Rent paid during the year was RM4,000. Office Supplies on hand amounted to RM1,000. Inventory on hand at September 30 amounted to RM5,000 Required a. Prepare a worksheet for Danny Hardware using the format below. (14 marks) Uradjusted Adjusters Addreone Statement Tail Balance Two Accounts Debe Crede Pot Credit Door Code Der Credit Debt Code iv. v. Vi. b. Using the worksheet from (a) to illustrate, explain how Danny Hardware can ensure that the figures presented are accurate. (6 marks)
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