Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 6. Thank you in advance!! The following is the extracted information from the trial balance for Paradise Sdn. Bhd. for the year ended 31

image text in transcribed QUESTION 6. Thank you in advance!!

The following is the extracted information from the trial balance for Paradise Sdn. Bhd. for the year ended 31 December 20x7 Question 6 Particulars RM 20,000 Rent revenue Salaries 16,000 Utilities 10,000 Insurance 19,200 The following information is required for the adjustments to Paradise Sdn. Bhd.'s accounts for the year ended 31 December 20x7 1 Salaries for the workers amounting to RM6,000 are still outstanding. 2 Insurance expenses were for the period from 1 February 20x7 until 31 January 20x8 3 At the end of the accounting period, Paradise Sdn. Bhd. had not received rent amounting to RM4,000. 4 Utity bill still outstanding amounts to RM600. Required: (a) Prepare the journal entries for all the adjustments above (b) Provide an extract of the Statement of Profit or Loss and Other Comprehensive Income and the Statement of Financial Position for the year ended 31 December 20x8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Committee And Audit Quality

Authors: AMINU ALKASIM FAGO, ENIOLA SAMUEL AGBI, MOHAMMED NMA AHMED

1st Edition

6204209868, 978-6204209869

More Books

Students also viewed these Accounting questions