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Ramsha Logistics Pvt Ltd Unadjusted Trial Balance for the year ended August 31, 2020 Account Title Balance Debit(RM) Credit(RM) Service Revenue 820,000 Salaries Expenses 460,000
Ramsha Logistics Pvt Ltd Unadjusted Trial Balance for the year ended August 31, 2020 Account Title Balance Debit(RM) Credit(RM) Service Revenue 820,000 Salaries Expenses 460,000 230,000 50,000 52,000 79,000 12,000 Delivery Expenses Utilities Expenses Bank Account Receivable Office Supplies on hand Prepaid Insurance Furniture Accumulated Depreciation-Delivery van Accounts Payable Unearned Revenue 36,000 80,000 16,000 56,000 12,000 Ramsha, Capital 100,000 Ramsha, Withdrawals 5,000 Total 1,004,000 1,004,000 Additional information: Depreciation recorded on the Furniture using the straight-line method. Assume a useful life of five years with 70 salvage value Prepaid Insurance until the month of August has expired. Insurance was paid in advance at RM36,000 for 1 rear on January 1, 2020. . Accrued salaries expenses, RM10,000 Service revenue worth of RM 5,000 is yet to be earned. . Office supplies on hand, RM6,000 Required a) Prepare an Adjusted Trial Balance for Ramsha Logistics Pvt Ltd for the year ended August 31, 2020 (6 marks) b) Prepare Ramsha Logistics Pvt Ltd Statement of Comprehensive Income (Income Statement) and Statement of Owner's Equity for the year ended August 31, 2020. (10 marks)
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