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The Statement of Profit and Loss of ABC Trading for the month of August 2022 is as follows: In reviewing the statement, you discover the
The Statement of Profit and Loss of ABC Trading for the month of August 2022 is as follows: In reviewing the statement, you discover the following: i. Insurance expired during August of RM400 was omitted. ii. Supplies expense includes RM250 of supplies are still on hand at August 31. iii. Depreciation on equipment of RM150 was omitted. iv. Accrued salaries and wages at August 31 of RM300 were not included. v. Service pertormed but unrecorded totalled RM650. You are required to journalise all adjusting entries and prepare the correct Statement of Profit and Loss for August 2022
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