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Question 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Additional information: 1. Inventory as at 31 December
Question 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Additional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the year ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& fittings: 10% using straight line method b. Motor vehicles: 15% using reducing balance method. 3. Electricity bils was paid in advanced by RM500. Meanwhile RM400 commission are not received yet. 4. One of the customers Amri Sport Enterprise was declare bankrupt and unable to pay the debt amount RM700 5. The provision for doubtful debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are accrued by RM 140. Question 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Additional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the year ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& fittings: 10% using straight line method b. Motor vehicles: 15% using reducing balance method. 3. Electricity bils was paid in advanced by RM500. Meanwhile RM400 commission are not received yet. 4. One of the customers Amri Sport Enterprise was declare bankrupt and unable to pay the debt amount RM700 5. The provision for doubtful debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are accrued by RM 140
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