**XYZ Bhd Trial balance 31 December 2020 Debit RM Credit RM Cash 189,700 Accounts receivable 105,000 Rent revenue 18,000 Retained earnings 160,000 Salaries and wages payable 18,000 Sales revenue 1,100,000 Notes receivable 110,000 Accounts payable 49,000 Accumulated depreciation-equipment 28,000 Sales discounts 14,500 Sales returns and allowances 17,500 Notes payable 60,000 Selling expenses 232,000 Administrative expenses 99,000 Share capital-ordinary 300,000 Income tax expense 53,900 Cash dividends 45,000 Allowances for doubtful accounts 5,000 Supplies 14,000 Cost of sales 645,000 Land 70,000 Equipment 140,000 Bonds payable 100,000 Gain on sale of land 20,000 Accumulated depreciation-buildings 18,600 Inventory 64,000 Buildings 98,000 Revaluation of land and buildings 21,000 Total 1,897,600 1,897,600 Additional Information: Depreciation of building and equipment for the year are RM10,000 and RM9,000 respectively which are not yet considered in the current administration expense. Accrued revenue earned but not recorded are RM12,000. The balance of salaries and wages payable total RM18,000 is for the remaining 3 days in the month of December as the pay date for the company is on 27th of every month. Interest of 10% is accrued on note payable on 31 December. Journalise the adjusting entries

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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Question

XYZ Bhd Trial balance 31 December 2020**
	Debit RM	Credit RM
Cash	189,700
Accounts receivable	105,000
Rent revenue		18,000
Retained earnings		160,000
Salaries and wages payable		18,000
Sales revenue		1,100,000
Notes receivable	110,000
Accounts payable		49,000
Accumulated depreciation-equipment		28,000
Sales discounts	14,500
Sales returns and allowances	17,500
Notes payable		60,000
Selling expenses	232,000
Administrative expenses	99,000
Share capital-ordinary		300,000
Income tax expense	53,900
Cash dividends	45,000
Allowances for doubtful accounts		5,000
Supplies	14,000
Cost of sales	645,000
Land	70,000
Equipment	140,000
Bonds payable		100,000
Gain on sale of land		20,000
Accumulated depreciation-buildings		18,600
Inventory	64,000
Buildings	98,000
Revaluation of land and buildings		21,000
Total	1,897,600	1,897,600

Additional Information:

Depreciation of building and equipment for the year are RM10,000 and RM9,000 respectively which are not yet considered in the current administration expense.
Accrued revenue earned but not recorded are RM12,000.
The balance of salaries and wages payable total RM18,000 is for the remaining 3 days in the month of December as the pay date for the company is on 27^th of every month.
Interest of 10% is accrued on note payable on 31 December.

Journalise the adjusting entries

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