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The Trial Balance of Deco Enterprise as at 31 December 2019 shows the following: RM RM 25,600 Incentive Received Interest Paid Rental Received Insurance 12,100
The Trial Balance of Deco Enterprise as at 31 December 2019 shows the following: RM RM 25,600 Incentive Received Interest Paid Rental Received Insurance 12,100 91,000 2,400 The financial year for Deco Enterprise ends on 31 December every year. Below is the additional information as at 31 December 2019: i. ii. iii. iv. Incentive receivable is RM7,560 Interest incurred for the financial year is RM13,450 Rental received per annum should be RM84,000 Insurance was paid for the period from October 2019 to September 2020 Required : a. Adjusting journal entries to account for the additional information above. (8 marks) b. Update the above accounts accordingly. (12 marks)
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