Question 4

The following balances were extracted from the books of Pat Pet Shop on 31 December 2019: Accounts Amount (RM) Building 200,000 Motor vehicles 120,000 Plant and machinery 70,000 Profit as at 01.01.2019 10,850 Capital 100,000 Acc depreciation as at 31.12.2019 : Building 60,000 Acc depreciation as at 31.12.2019 : Motor vehicles 69,250 Acc depreciation as at 31.12.2019 : Plant & machinery 40,000 Sales 612,000 Commission revenue 100,000 Purchases 348,000 Sales discounts 5,000 Purchase discounts 3,500 Opening inventory 12,000 Trade receivables 26,700 Trade payable 43,200 Administrative expenses 18,000 Staff training cost 4,000 Bad debts 12,500 Motor expenses 27,000 Rental 90,000 Bank overdraft 13,400 Wages and salaries 115,000 Interest 6,000 Unearned commission for December 2019 2,000 Required:- Assuming all accounts are in normal balance, prepare the trial balance as at 31 December 2019. [13 marks]

Question 5

After you have prepared the trial balance for Question 4, you notice the following information:- (i) Telephone bill for December amounting to RM200 has been received but not recorded. (ii) One day of casual wages amounting to RM125 remains unpaid and unrecorded at December 31; the amount will be included with the first Friday payment in January 2020. (ii) Included in rental expenses is rental paid for January 2020 amounting to RM2,000. (iv) Half of the commission revenue has been earned at December 31, 2019. Required:- (a) Prepare the adjusting journals. [4 marks] (b) Prepare the adjusted Trial Balance. [8 marks]

Question 6 Using the trial balance prepared in Question 5, prepare the Statement of Comprehensive Income and Financial Position as at 31 December 2019 for Pat Pet Shop. The closing inventories for Year 2019 was RM40,000. [20 marks]