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Question: Sunny Light House operates in Petaling Jaya. The company sells lights for interior decorations for offices. The company has a business account with MyBank

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Question: Sunny Light House operates in Petaling Jaya. The company sells lights for interior decorations for offices. The company has a business account with MyBank Bhd. On 31 March 2019, the bank column for Sunny Light House cash book showed a debit balance of RM7,350. The bank statement from MyBank Bhd however was showed a credit balance of RM9,388. The following was discovered: i ii. iii. iv. V. vi. Dividends of RM118 were credited directly to the bank. A direct debit of RM435 was paid to Maxus, the telephone and communication provider. Tax refund via direct credit from Inland Revenue Board (IRB) due to excess tax deduction amounting RM3,640. Bank charge of RM70 was incurred due to late settlement of loan Cheque of RM640 issued to Accounts Payable Jamal was inaccurately recorded as RM604 in the cashbook. Standing order of RM250 for fire insurance premium was made to Prodential Insurance. The following cheques had been issued to Accounts Payable but not presented yet. Pay to Cheque Number Amount (RM) Abraham Electrics Sdn Bhd 250780-1007 420 David Appliance 250780-1028 370 Noah Supplies 250780-1017 190 vii

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