Question
The following shows the unadjusted Trial Balance of Satyam Logistics Sdn Bhd during August 2018: Satyam Logistics Sdn Bhd Unadjusted Trial Balance for the month
The following shows the unadjusted Trial Balance of Satyam Logistics Sdn Bhd during August 2018:
Satyam Logistics Sdn Bhd | ||
Unadjusted Trial Balance for the month ended August 31, 2018 | ||
Account Title | Balance | |
| Debit(RM) | Credit(RM) |
Service Revenue |
| 103,500 |
Salaries Expenses | 45,000 |
|
Fuel Expenses | 7,500 |
|
Utility Expenses | 48,000 |
|
Bank | 676,500 |
|
Debtors | 39,000 |
|
Office Supplies | 21,000 |
|
Prepaid Rent | 22,500 |
|
Motor Vehicle | 600,000 |
|
Accumulated DepreciationMotor vehicle |
| 7,500 |
Creditors |
| 12,000 |
Unearned Revenue |
| 96,000 |
Satyam, Capital |
| 1,300,500 |
Satyam, Withdrawals | 60,000 |
|
Total | 1,519,500 | 1,519,500 |
|
|
|
Additional information:
Depreciation was recorded on the motor vehicle using the straight-line method. Assume a useful life of five years and a salvage value of RM150,000.
Rent paid in advance for the month has expired. RM30,000 rent was paid in advance for four months period starting July 1.
Accrued Salaries Expenses, RM30,000.
Accrued Service Revenue, RM36,000.
Office Supplies on hand, RM3,600.
Required:
Prepare an Adjusted Trial Balance for Satyam Logistics Sdn Bhds as at August 31, 2018. (6 marks)
Prepare Satyam Logistics Sdn Bhds Statement of Comprehensive Income (Income Statement) and Statement of Owners Equity for the month ended August 31, 2018. (10 marks)
Prepare Satyam Logistics Sdn Bhds Statement of Financial Position (Balance Sheet) on August 31, 2018. (9 marks)
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