Answer for Question 5

Question 6

Using the trial balance prepared in Question 5, prepare the Statement of Comprehensive Income and Financial Position as at 31 December 2019 for Pat Pet Shop. The closing inventories for Year 2019 was RM40,000.

(a) Adjusting Journals Number (i) DEBIT (RM) CREDIT (RM) 200 200 PARTICULARS Telephone Bill Accounts Dr. To Outstanding Telephone Bill Accounts (Being Telehone bill received but not paid there recorded as oustanding liability) 125 125 Wages Accounts Dr. To Outstanding Wages Accounts (Being Unrecorded and unpaid wages recorded) 2000 2000 Prepaid Rent Accounts Dr. To Rent Accounts (Being rent of January paid in advance) (iv) Half Half Commision Accounts Dr. To Unearned Commision Accounts (Being Commision received in Advance) (b) Adjusted Trial Balance Number 1 2 Nm 4 Particulars Telephone Bills Outstanding Telephone Bills Wages Outstanding Wages Prepaid Rent Rent Commission Unearned Commission Total Debit (RM) Credit (RM) 200 200 125 125 2000 2000 Half Half 2352 2352 | [ - 8