QuesionPrepare the following for the year ended 31 May 2021:(a) Rent received account;Utilities account. The following information was provided by Carissa Enterprise:Carissa EnterpriseStatement of financial position (extract) as at 31 May 2020RMCurrent assetsRental receivables5,000Current liabilitiesAccrued utilities200 Carissa EnterpriseStatement of profit or loss (extract) for the year ended 31 May 2021:RMRevenueRent received10,000ExpensesUtilities2,000Additional information:i.Prepaid utilities as at 31 May 2021 were RM800.ii.Accrued rent received as at 31 May 2021 amounted to RM7,000.

Accrual system of accounting says that every thing which is accrued has to be provided in books of…

Answered: Quesion Prepare the following for the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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.