SHARON'S POINT TRIAL BALANCE AS OF 31.12.2018 DR CR Accrued Liabilities 5,464 2.325 Bank Capital Cash Commision Paid Commission Received Computer Cost of Goods Sold Drawings Electricity Fixed Deposit at Bank Fixtures & Fittings Hire Purchase Loan Interest Paid Short-Term Debt Motor Vehicle Notes Payable office Rental 30,000 5,601 1,200 2,523 2,000 32,364 9,000 800 19,000 10,520 21,000 759 12,622 35,000 5,241 10,500 500 Prepaid Expense Retained Earnings Salaries Sales Telephone Expense Trade Debtors 12,000 15,300 75,894 4,215 15,660 TOTAL 164,744 164,744 Adjustments: 1. Interest paid short of RM120 2. Water bill amounting to RM855 not accounted for 3. Depreciation not accounted for - Computer RM200, Fixtures & Fittings RM1,052, Motor Vehicle RM3,500 4. Office Rental should be RM11,500 Required: 1. Trading, Profit & Loss Account 2. Balance Sheet

SHARON'S POINT TRIAL BALANCE AS OF 31.12.2018 DR CR Accrued Liabilities 5,464 2.325 Bank Capital Cash Commision Paid Commission Received Computer Cost of Goods Sold Drawings Electricity Fixed Deposit at Bank Fixtures & Fittings Hire Purchase Loan Interest Paid Short-Term Debt Motor Vehicle Notes Payable office Rental 30,000 5,601 1,200 2,523 2,000 32,364 9,000 800 19,000 10,520 21,000 759 12,622 35,000 5,241 10,500 500 Prepaid Expense Retained Earnings Salaries Sales Telephone Expense Trade Debtors 12,000 15,300 75,894 4,215 15,660 TOTAL 164,744 164,744 Adjustments: 1. Interest paid short of RM120 2. Water bill amounting to RM855 not accounted for 3. Depreciation not accounted for - Computer RM200, Fixtures & Fittings RM1,052, Motor Vehicle RM3,500 4. Office Rental should be RM11,500 Required: 1. Trading, Profit & Loss Account 2. Balance Sheet

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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