Question
The following shows the unadjusted Trial Balance of Ramsha Logistics Pvt Ltd for the year ended 2020: Ramsha Logistics Pvt Ltd Unadjusted Trial Balance for
The following shows the unadjusted Trial Balance of Ramsha Logistics Pvt Ltd for the year ended 2020:
Ramsha Logistics Pvt Ltd
Unadjusted Trial Balance for the year August 31, 2020
Debit | Credit | |
Service Revenue | 820,000 | |
Salaries Expenses | 460,000 | |
Delivery Expenses | 230,000 | |
Utilities Expenses | 50,000 | |
Bank | 52,000 | |
Account Receivables | 79,000 | |
Office Supplies on hand | 12,000 | |
Prepaid Insurance | 36,000 | |
Furniture | 80,000 | |
Accumulated Depreciation-Delivery van | 16,000 | |
Account payable | 56,000 | |
Unearned revenue | 12,000 | |
Ramsha, Capital | 100,000 | |
Ramsha, Withdrawal | 5,000 | |
Total | 1,004,000 | 1,004,000 |
Additional information:
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Depreciation recorded on the Furniture using the straight-line method.Assume a useful life of five years with no salvage value
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Prepaid insurance until the month of August has expired.Insurance was paid in advance of RM36,000 for 1 year on January 1,2020
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Accrued salaries, expenses, RM10,000
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Service revenue worth of Rm5,000 is yet to be earned.
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Office supplies on hand,RM6,000
Required
(a)Prepaid on Adjusted Trial Balance for Ramsha Logistics Pvt Ltd for the year ended 31 August,2020
(b)Prepare Ramsha Logistics Pvt Ltd statement of Comprehensive income (income statement) of owners equity for the year ended August 31,2020
(c)Prepare Ramsha Logistics Pvt Ltd Statement of Financial Position (Balance sheet) as at August 31,2020
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