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QUESTION 3 (15 MARKS) At month end, Blossom Sdn Bhd close the following balance in their Unadjusted Trial balance: Cr(RM) Blossom Sdn Bhd Unadjusted Trial
QUESTION 3 (15 MARKS) At month end, Blossom Sdn Bhd close the following balance in their Unadjusted Trial balance: Cr(RM) Blossom Sdn Bhd Unadjusted Trial Balance 30 November 2020 Dr (RM) 45,600 7,500 1,800 15,000 Account Cash Advertising Supplies Prepaid Insurance Office Equipment Notes Payable Account Payable Capital Drawing Uneared Service Revenue Service revenue Salary expenses Rent Expense 15,000 7,500 30,000 1,500 3,600 30,000 12.000 2,700 As an Account Manager in Blossom Sdn Bhd, you realise the following entries have not yet been effected: 3) 1) Inventory count at the close of business on November 31 reveals that RM3,000 of supplies are still on hand. 2) One-year fire insurance policy was paid RM1,800. Coverage began on November 1. Office equipment was newly bought on November 1. Estimated depreciation on the office equipment to be RM1,440 a year. 4) Unearned service revenue of RM3,600 was received on November 2 for a services expected to be completed by January 31. Analysis reveals that the company earned RM1,200 of those fees in November. 5) Blossom earned RM600 for florist services done for Fortune Enterprise that yet to be recorded. 6) The company signed a three-month note payable of RM15,000 on November 1 at an annual rate of 12%. The interest is yet to be recorded. 7) Salaries was paid on cut-off date November 24, and the next salaries payment is 7 December. The employee receive total salaries of RM15,600 per month. 8) Management of the company has decided to provide for 10% for doubtful debts from the Account Receivable. REQUIRED: Prepare the Adjusted Trial Balance for Wagner Sdn Bhd as at 30 November 2020. (15 Marks)
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