Question: (12 marks) Ju lile Telained earnings statement for the year ended 31 December 2020. (4 marks) c) Prepare the statement of financial position as at

(12 marks) Ju lile Telained earnings statement for the year ended 31 December 2020. (4 marks) c) Prepare the statement of financial position as at 31 December 2020. (9 marks) [Total 25 marks] QUESTION 2 Part A Correcting entries is different from adjusting entries. An examination of the accounts of Waqif Bhd for the month of July revealed the following errors after the transactions were journalized and posted in trial balance. 1. A bill for RM5,400 for Supllies purchased on account was debited to Equipment, and credited to Supplies expenses with the same amount. 2. A payment of utilities expenses for RM1,450 was debited to Utilities expenses only. 3. Depreciation of RM2,450 on the equipment was recognise as Debit Depreciation expense, and credit Equipment. 4. A recognition of interest payble of RM300 is totally omitted. Required: Prepare correcting entries for each of the above assuming the erroneous entries are not reversed. (4 marks) Continued... MI/MAM 2/6

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