1. Inventory as at June 30, 2023 is RM8,800. 2. The insurance policy RM2,700 paid to Syarikat MNI Malaysia Bhd. is for 6 months beginning May 1, 2023. 3. One of the Accounts Receivable, Puan Asmah has been declared bankrupt and RM500 should be considered as a bad debt. 4. Buildings depreciation rate is 10% per annum on cost. 5. Company received RM1,800 on March 1, 2023 for sixth-month rental. 6. Purchase discounts of RM250 has been recorded as Purchase Returns and Allowances. 7. Annual salaries expense is RM9,000. Salaries for the month of June 2023, is unpaid and unrecorded. 8. On June 30, 2023, RM300 merchandises have been delivered to customer but not yet recorded. 9. Madam Haura used RM200 cash to buy her children's stationery and the transaction is not yet recorded. Required: a. Prepare (CLO3, C4) the adjusting journal entries on June 30, 2023.
1. Inventory as at June 30, 2023 is RM8,800. 2. The insurance policy RM2,700 paid to Syarikat MNI Malaysia Bhd. is for 6 months beginning May 1, 2023. 3. One of the Accounts Receivable, Puan Asmah has been declared bankrupt and RM500 should be considered as a bad debt. 4. Buildings depreciation rate is 10% per annum on cost. 5. Company received RM1,800 on March 1, 2023 for sixth-month rental. 6. Purchase discounts of RM250 has been recorded as Purchase Returns and Allowances. 7. Annual salaries expense is RM9,000. Salaries for the month of June 2023, is unpaid and unrecorded. 8. On June 30, 2023, RM300 merchandises have been delivered to customer but not yet recorded. 9. Madam Haura used RM200 cash to buy her children's stationery and the transaction is not yet recorded. Required: a. Prepare (CLO3, C4) the adjusting journal entries on June 30, 2023.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please provide me with the adjusted journal for this question. Thanks :)
Transcribed Image Text:Additional Information:
1. Inventory as at June 30, 2023 is RM8,800.
2. The insurance policy RM2,700 paid to Syarikat MNI Malaysia Bhd. is for 6 months beginning May
1, 2023.
3. One of the Accounts Receivable, Puan Asmah has been declared bankrupt and RM500 should be
considered as a bad debt.
4. Buildings depreciation rate is 10% per annum on cost.
5. Company received RM1,800 on March 1, 2023 for sixth-month rental.
6. Purchase discounts of RM250 has been recorded as Purchase Returns and Allowances.
7. Annual salaries expense is RM9,000. Salaries for the month of June 2023, is unpaid and unrecorded.
8. On June 30, 2023, RM300 merchandises have been delivered to customer but not yet recorded.
9. Madam Haura used RM200 cash to buy her children's stationery and the transaction is not
yet recorded.
Required:
a. Prepare (CLO3, C4) the adjusting journal entries on June 30, 2023.
Transcribed Image Text:Cash
Accounts Receivable
Inventory as at July 1, 2022
Building
Accumulated Depreciation-
Buildings
Accounts Payable
Capital, Haura
Drawings, Haura
Sales
Sales Returns and Allowances
Purchases
Purchase Returns and Allowances
Freight-in
Freight-out
Sales Discounts
Purchase Insurance
Purchase Discounts
Salaries Expense
Haura Design Company
Unadjusted Trial Balance
as at June 30, 2023
Insurance Expense
Interest Revenue
Rental Revenue
Total
Debit
(RM)
49,800
9,750
7,500
120,000
1,500
3,150
52,500
1,200
2,400
750
750
8,250
2,700
260,250
Credit
(RM)
36,000
27,000
83,500
105,000
3,300
2,000
1,650
1,800
260,250
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