QUIZ 2

DEFA131 FINANCIAL ACCOUNTING 1

Below are the trial balance provided by the AKMAL BISTRO as at 28 February 2019.

Trial balance as at 28 February 2019

Account

Debit

Credit

Cash Account

320,000

Building

450,000

Equipment account

90,000

Capital

675,000

Rent expenses

15,000

Account payable

9,000

Services revenue

140,000

Account receivable

52,000

Marketing expenses

1,000

salaries expenses

6,900

Drawing

500

Accumulated depreciation - Building

90,000

Accumulated depreciation -Equipment

27,000

Water and Electrical bill

5,600

941,000

941,000

Additional information as follow:-

1.Depreciation on equipment at 10% per annum.

2.Depreciation on building at 20% per annum.

3.Rent expenses recorded for 6 month.

4.RM 40,000 from service revenue is the payment in advance by customer.

5.Interest received 5,000 are not recorded in any book.

6.Pending payment of intern salaries amounted 1,100.

7.Pending payment for marketing expenses amounted 6,000

8.Investments by owner on 5th Feb, amounted 300,000 that give 10% dividend return are not recorded in any book.

9.Feb 10, approved borrowed 150,000 at a rate of 8% per year. Interest is due every 1st of the month.

Required:-

1.Prepare journal entries for the additional information provided by AKMAL BISTRO, and

2.Prepare the worksheet 10 column.