Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following trial balance was extracted from Raiz Trading company's books as of 30 June 2022. The inventory for the company as at 30 June
The following trial balance was extracted from Raiz Trading company's books as of 30 June 2022. The inventory for the company as at 30 June 2022 was RM4,800. Additional information: i. Wages and salaries accrued at 30 June 2022 were RM680. ii. Rent prepaid at 30 June 2022 was RM460. iii. Increase in the provision for doubtful debts by RM182. iv. Annual depreciation for office equipment is based on the straight line method at a rate of 5%. You are required to prepare the following for the company: a) Journal for the adjusting entries on 30 June 2022. b) Statement of Comprehensive Income for the year ended 30 June 2022. c) Statement of Financial Position as at 30 June 2022
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started