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i. and ii. QUESTION 1 Following is a trial balance of Boorpaq Technology Sdn. Bhd as at 31 December 2016. Booroag Tec...
Question 1 QUESTION 1 Following is a trial balance of Booroaq Technology Sdn. Bhd as at 31 December 2016 Booroaq Tec...
Question 1
QUESTION 1 Following is a trial balance of Booroaq Technology Sdn. Bhd as at 31 December 2016 Booroaq Technology Sdn. Bhd Trial Balance As at 31 December 2016 Credit (RM) Debit (RM) Warehouse rent 3,700 21,400 15,570 Wages and Salaries Van Utilities Expenses 334 Shop Lot 199,000 Sales 77,337 Returns Outwards Return inwards 1,330 777 Purchases 35,375 11,755 Opening inventory Long Term debt Legal Expenses Insurance 100,000 757 1,200 General Expenses Equipment Drawings Cash in Hand 555 7,900...
1) Prepare the statement profit or loss for the year ended 31 December 2018 2)Prepare the...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
The following is the trial balance of Jackie Chong Trading as at 31 March 2016: Particulars...
The following is the trial balance of Jackie Chong Trading as at 31 March 2016: Particulars RM RM Inventory in 1 April 2015 Purchases and sales Carriage outwards Return outwards Wages and salaries Rent paid Delivery expenses Discount allowed and received Insurance General expenses Premises Trade receivables and payables Furniture and fittings Cash at bank Cash in hand Drawings Capital 17,600 69,185 1,570 10,240 3,015 624 216 405 318 20,000 14,320 2,850 2,970 675 7,620 ______ 151,608 91,920 640 88...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM)...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM) 22,860 5,100 Credit (RM) 41,000 6,860 4,300 930 570 Details Purchases and Sales Inventory on 1 January 2018 Capital Bank overdraft Cash Discount allowed and received Return inwards and outwards Carriage outwards Office expenses Fixtures and Fittings Delivery van Accounts receivable and accounts payable Rent and insurance Drawings Wages and Salaries Dividend received Commission received 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles at cost - Distribution Administration Plant and machinery at cost Wages -...
The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31 December...
The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31 December 2019. ZZZ Manufacturing Trial Balance as at 31 December 2019 Debit (RM) Credit (RM) Accounts Cash 68,000 Beginning inventories 24,300 Bank 106,000 Prepaid bills 3,000 Sales 104,900 Purchase 34,600 Custom duties 890 Salaries 13,000 Carriage inwards 190 Heat and lighting expense 7,500 Allowance for Doubtful Debts (AFDD) 550 Insurance 6,000 . Bad debts 290 Debtors 34,000 Machineries 100,000 Fittings and furniture 43,000...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017 and 2016. December 31, 2017 December 31, 2016 RM RM Equipment 105,450 76,500 Accumulated depreciation-equipment (48.300) (30,600) Inventory 175.350 139,875 Accounts receivable 19,425 23.250 Cash 53.925 31,800 Ordinary share capital, no par value 207,000 165,000 Retained earnings 55,875 33,450 Accounts payable 38,475 35,625 Tax payable 4,500 6,750 Mawar Sdn. Bhd, presented the following statement of profit or loss for the year ended December 31,...
1. The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31...
1. The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31 December 2019. ZZZ Manufacturing Trial Balance as at 31 December 2019 Debit (RM) Credit (RM) Accounts Cash 68,000 Beginning inventories 24,300 Bank 106,000 Prepaid bills 3,000 Sales 104,900 Purchase 34,600 Custom duties 890 Salaries 13,000 Carriage inwards 190 Heat and lighting expense 7,500 Allowance for Doubtful Debts (AFDD) 550 Insurance 6,000 . Bad debts 290 Debtors 34,000 Machineries 100,000 Fittings and furniture...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 December 2018 1/40 60-90 days Over 91 days 0.03 Account Receivables Aging Schedule Name Total 1 - 30 days 31- 60 days (RM) Total Account 92,500 31,000 34,000 Receivable Estimated 2% 3% uncollectible 21,500 6,000 4% 5% 1010 d) Show the accounting treatment for bad debt: i) Journalize the adjusting entry for bad debts on 31 December 2018 by assuming the unadjusted balance for...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 December 2018 60-90 days Over 91 days Account Receivables Aging Schedule Name Total 1 - 30 days 31-60 days (RM) Total Account 92,500 31,000 34,000 Receivable Estimated 2% 3% uncollectible 21,500 6,000 4% 5% Required: a) What is bad debt? (2 marks) b) Explain 2 reasons why company should allocate some amount for bad debts/uncollectible? (2 marks) c) Calculate the total estimated bad debts...
Question 1
QUESTION 1 Following is a trial balance of Booroaq Technology Sdn. Bhd as at 31 December 2016 Booroaq Technology Sdn. Bhd Trial Balance As at 31 December 2016 Credit (RM) Debit (RM) Warehouse rent 3,700 21,400 15,570 Wages and Salaries Van Utilities Expenses 334 Shop Lot 199,000 Sales 77,337 Returns Outwards Return inwards 1,330 777 Purchases 35,375 11,755 Opening inventory Long Term debt Legal Expenses Insurance 100,000 757 1,200 General Expenses Equipment Drawings Cash in Hand 555 7,900...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM) 22,860 5,100 Credit (RM) 41,000 6,860 4,300 930 570 Details Purchases and Sales Inventory on 1 January 2018 Capital Bank overdraft Cash Discount allowed and received Return inwards and outwards Carriage outwards Office expenses Fixtures and Fittings Delivery van Accounts receivable and accounts payable Rent and insurance Drawings Wages and Salaries Dividend received Commission received 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles at cost - Distribution Administration Plant and machinery at cost Wages -...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017 and 2016. December 31, 2017 December 31, 2016 RM RM Equipment 105,450 76,500 Accumulated depreciation-equipment (48.300) (30,600) Inventory 175.350 139,875 Accounts receivable 19,425 23.250 Cash 53.925 31,800 Ordinary share capital, no par value 207,000 165,000 Retained earnings 55,875 33,450 Accounts payable 38,475 35,625 Tax payable 4,500 6,750 Mawar Sdn. Bhd, presented the following statement of profit or loss for the year ended December 31,...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 December 2018 1/40 60-90 days Over 91 days 0.03 Account Receivables Aging Schedule Name Total 1 - 30 days 31- 60 days (RM) Total Account 92,500 31,000 34,000 Receivable Estimated 2% 3% uncollectible 21,500 6,000 4% 5% 1010 d) Show the accounting treatment for bad debt: i) Journalize the adjusting entry for bad debts on 31 December 2018 by assuming the unadjusted balance for...
Question 1: Jaafar Trading Sdn Bhd (JTSB) has has the following ageing schedule as at 31 December 2018 60-90 days Over 91 days Account Receivables Aging Schedule Name Total 1 - 30 days 31-60 days (RM) Total Account 92,500 31,000 34,000 Receivable Estimated 2% 3% uncollectible 21,500 6,000 4% 5% Required: a) What is bad debt? (2 marks) b) Explain 2 reasons why company should allocate some amount for bad debts/uncollectible? (2 marks) c) Calculate the total estimated bad debts...
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