Question: Answer all questions Question 1 (20 marks) Macha Drinks Enterprise, rented part of its premise to a client, Burger Jaya Bhd for a monthly rent

Answer all questions Question 1 (20 marks) Macha Drinks Enterprise, rented

Answer all questions Question 1 (20 marks) Macha Drinks Enterprise, rented part of its premise to a client, Burger Jaya Bhd for a monthly rent of RM500. On December 1, Burger Jaya Bhd paid for 3 months rental in advance amounting to RM1,500. a Required Prepare the joumal and ledger entries at Dec 1 and the subsequent adjusting entries at year end, Dec 31 for Macha Drinks Enterprise. Provide a narration for the joumal entries. (10 marks) b. Prepare Final Statements under i. Cash Basis Accounting ii. Accrual Basis Accounting (4 marks) C. Describe and explain the impact of omitting the accrual adjustments at Dec 31. (6 marks)

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