Quesion Prepare the following for the year ended 31 May 2021: (a) Rent received account;Utilities account.
Quesion Prepare the following for the year ended 31 May 2021: (a) Rent received account;Utilities account.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Quesion
Prepare the following for the year ended 31 May 2021:
(a) Rent received account;Utilities account.

Transcribed Image Text:The following information was provided by Carissa Enterprise:
Carissa Enterprise
Statement of financial position (extract) as at 31 May 2020
RM
Current assets
Rental receivables
5,000
Current liabilities
Accrued utilities
200

Transcribed Image Text:Carissa Enterprise
Statement of profit or loss (extract) for the year ended 31 May 2021:
RM
Revenue
Rent received
10,000
Expenses
Utilities
2,000
Additional information:
i.
Prepaid utilities as at 31 May 2021 were RM800.
ii.
Accrued rent received as at 31 May 2021 amounted to RM7,000.
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