GAGAH Sdn. Bhd. is a business primarily engaged in manufacturing of sporting and athletic goods. The following trial balances and additional information are taken from GAGAH Sdn. Bhd. GAGAH Sdn. Bhd. Trial Balance as at 31 August 2021 RM RM Withdrawal 15,000 Salary Expenses 220,000 Utility Expenses 4,500 Bank Deposits 68,900 Revenue 96,800 Prepaid Insurance 2,400 Other Expenses 9,900 Capital 400,000 Bank Overdrafts 4,600 Computer Equipment 160,000 80,000 Accumulated Depreciation of Computer Equipment Cash 100,700 581,400 581,400
GAGAH Sdn. Bhd. is a business primarily engaged in manufacturing of sporting and athletic goods. The following trial balances and additional information are taken from GAGAH Sdn. Bhd. GAGAH Sdn. Bhd. Trial Balance as at 31 August 2021 RM RM Withdrawal 15,000 Salary Expenses 220,000 Utility Expenses 4,500 Bank Deposits 68,900 Revenue 96,800 Prepaid Insurance 2,400 Other Expenses 9,900 Capital 400,000 Bank Overdrafts 4,600 Computer Equipment 160,000 80,000 Accumulated Depreciation of Computer Equipment Cash 100,700 581,400 581,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Do question c) only.
Transcribed Image Text:1.
Computer Equipment is expected to last 4 years without scrap value.
2.
Salary expenses accrued on 31 August 2021 was amounted to RM12,000.
3.
Prepaid insurance for the period 1 December 2020 to 30 November 2021.
4.
Utility expenses accrued on 31 August 2021 was amounted to RM700.
Based on the information provided, you are required to provide:
а.
Adjusted Trial Balance for the year ended 31 August 2021.
b.
Income Statement for the year ended 31 August 2021.
С.
Balance Sheet on 31 August 2021.
Transcribed Image Text:GAGAH Sdn. Bhd. is a business primarily engaged in manufacturing of sporting and athletic
goods. The following trial balances and additional information are taken from GAGAH Sdn.
Bhd.
GAGAH Sdn. Bhd.
Trial Balance as at 31 August 2021
RM
RM
Withdrawal
15,000
Salary Expenses
220,000
Utility Expenses
4,500
Bank Deposits
68,900
Revenue
96,800
Prepaid Insurance
2,400
Other Expenses
9,900
Сарpital
400,000
Bank Overdrafts
4,600
Computer Equipment
160,000
80,000
Accumulated Depreciation of Computer Equipment
Cash
100,700
581,400
581,400
Additional Information:
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