BOMBAS prise Unadjusted Trial Balance 31 December 2020 Debit RM Credit RM 22,320 22,440 Cash Accounts Receivable 4,140 Supplies Prepaid Insurance Cleaning Equipment Accumulated Depreciation – Cleaning Equipment Notes payable Accounts Payable 9,000 19,950 7,830 15,000 2,940 Unearned Service Revenue 5,625 27,592 75,563 Owner's Capital Service Revenue Salaries and Wages Expense 56,700 134,550 TOTALS 134,550 The information below has been gathered at 31 December 2020: 1. BOMBASTIC performed services amounted RM1,725 for a client in December 2020. The client will be billed at the end of the month. 2. On 1 July 2020, BOMBASTIC borrowed RM15,000 by signing a 6%, one-year note. 3. BOMBASTIC paid RM9,000 for 12-months of insurance coverage on 1 September 2020. 4. Depreciation on the cleaning equipment for 2020 is RM2,610. 5. Salaries and wages accrued as at 31 December 2020 is RM6,750 and unearned service revenue amounted RM3,900. 6. A count of supplies on 31 December 2020 indicates that supplies of RM1,328 are on hand.
BOMBAS prise Unadjusted Trial Balance 31 December 2020 Debit RM Credit RM 22,320 22,440 Cash Accounts Receivable 4,140 Supplies Prepaid Insurance Cleaning Equipment Accumulated Depreciation – Cleaning Equipment Notes payable Accounts Payable 9,000 19,950 7,830 15,000 2,940 Unearned Service Revenue 5,625 27,592 75,563 Owner's Capital Service Revenue Salaries and Wages Expense 56,700 134,550 TOTALS 134,550 The information below has been gathered at 31 December 2020: 1. BOMBASTIC performed services amounted RM1,725 for a client in December 2020. The client will be billed at the end of the month. 2. On 1 July 2020, BOMBASTIC borrowed RM15,000 by signing a 6%, one-year note. 3. BOMBASTIC paid RM9,000 for 12-months of insurance coverage on 1 September 2020. 4. Depreciation on the cleaning equipment for 2020 is RM2,610. 5. Salaries and wages accrued as at 31 December 2020 is RM6,750 and unearned service revenue amounted RM3,900. 6. A count of supplies on 31 December 2020 indicates that supplies of RM1,328 are on hand.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
Complete the worksheet for the year ended 31 December 2020.
Transcribed Image Text:BOMBASTIC Enterprise
Unadjusted Trial Balance
31 December 2020
Credit
RM
Debit
RM
22,320
22,440
4,140
9,000
19,950
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Cleaning Equipment
Accumulated Depreciation - Cleaning Equipment
Notes payable
Accounts Payable
7,830
15,000
2,940
5,625
Unearned Service Revenue
Owner's Capital
27,592
75,563
Service Revenue
Salaries and Wages Expense
TOTALS
56,700
134,550
134,550
The information below has been gathered at 31 December 2020:
1. BOMBASTIC performed services amounted RM1,725 for a client in December 2020. The
client will be billed at the end of the month.
2. On 1 July 2020, BOMBASTIC borrowed RM15,000 by signing a 6%, one-year note.
3. BOMBASTIC paid RM9,000 for 12-months of insurance coverage on 1 September 2020.
4. Depreciation on the cleaning equipment for 2020 is RM2,610.
5. Salaries and wages accrued as at 31 December 2020 is RM6,750 and unearned service
revenue amounted RM3,900.
6. A count of supplies on 31 December 2020 indicates that supplies of RM1,328 are on hand.
Transcribed Image Text:BOMBASTIC Enterprise
Worksheet
UNADJUSTED
TRIAL BALANCE
ADJUSTED
TRIAL BALANCE
STATEMENT OF
PROFIT AND
LOSS
STATEMENT OF
FINANCIAL
POSITION
ADJUSTMENT
ACCOUNTS TITLE
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
22,320
22,440
4,140
9,000
19,950
Cash
Accounts Recelvable
Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation - Equipment
Notes payable
7,830
15,000
2,940
5,625
27,592
Accounts Payable
Unearned Service Revenue
Owner's Capital
Service Revenue
75,563
Salaries and Wages Expense
56,700
134,550 134,550
28°C Rain ^
G ENG 10:26
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