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Question 3. Thank you in advance!! Question 3 Rahim is the new accounts clerk at Bintang Enterprise. His boss wants him to review all the
Question 3. Thank you in advance!!
Question 3 Rahim is the new accounts clerk at Bintang Enterprise. His boss wants him to review all the documents regarding the accrual and prepayment matters for the year ended 31 December 20x8. Rahim has been provided with the following information: Statement of Financial Position (extract) of related items as at 1 January 20x8 RM Salaries expenses accrued Prepaid utiliies expenses 600 3,000 Rental income received in advance 3,600 The Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 20x8 shows the following items: RM Salaries expense for the year Utilities expense for the year Rental income for the year 7,000 16,000 24,000 The amounts paid and received during the year are as follows: Bank Account (extract) RM Salaries expense 20,000 Rental income 8,000 Utilities expense 10,000 Required Determine the: (a) Salaries expense account (b) Utilities expense account (c) Renta income account (d) Statement of Financial Position (extract) as at 31 December 20x8Step by Step Solution
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