9. Frozen Frenzy is an entity located in Bandar Baru Bangi. The business owned by Mr Zack
Question:
9. Frozen Frenzy is an entity located in Bandar Baru Bangi. The business owned by Mr Zack since 2017. The business produce, supply and selling all types of frozen foods to customers. Mr Zack started the business with capital of RM28,000 and financed by term loan amounting RM25,000 FROM Bank Payung. These items were purchased using the loan approved by + Bank Payung: Items RM Business Premise 10,000 Oven 3,000 Mixer 2,000 Cash Register 600 Microwave 800 Working Table 650 Trolley 700 Freezer 3,500 Food Processor 950 Induction Stove 1,000 Display Racks 800 Basic Raw material for food processing such 1,000 as sugar, wheat flour, margarine, shortening, eggs and yeast Total financed cost utilised 25,000 Required: a) Calculate the initial total assets (in RM) owned by Frozen Frenzy using basic accounting equation. b) Calculate the total Non-current Assets (in RM) owned by Frozen Frenzy Enterprise.
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding