The Trial Balance of Deco Enterprise as at 31 December 2019 shows the following: RM RM Incentive Received 25,600 Interest Paid 12,100 Rental Received 91,000 Insurance 2,400 The financial year for Deco Enterprise ends on 31 December every year. Below is the additional information as at 31 December 2019: i. Incentive receivable is RM7,560 ii. Interest incurred for the financial year is RM13,450 iii. Rental received per annum should be RM84,000 iv. Insurance was paid for the period from October 2019 to September 2020 Required : a. Adjusting journal entries to account for the additional information above. b. Update the above accounts accordingly.
The Trial Balance of Deco Enterprise as at 31 December 2019 shows the following: RM RM Incentive Received 25,600 Interest Paid 12,100 Rental Received 91,000 Insurance 2,400 The financial year for Deco Enterprise ends on 31 December every year. Below is the additional information as at 31 December 2019: i. Incentive receivable is RM7,560 ii. Interest incurred for the financial year is RM13,450 iii. Rental received per annum should be RM84,000 iv. Insurance was paid for the period from October 2019 to September 2020 Required : a. Adjusting journal entries to account for the additional information above. b. Update the above accounts accordingly.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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RM RM Incentive Received 25,600 Interest Paid 12,100 Rental Received 91,000 Insurance 2,400
The financial year for Deco Enterprise ends on 31 December every year.
Below is the additional information as at 31 December 2019:
i. Incentive receivable is RM7,560 ii. Interest incurred for the financial year is RM13,450 iii. Rental received per annum should be RM84,000 iv. Insurance was paid for the period from October 2019 to September 2020 Required : a.
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