The following is the trial balance of Zachy Sdn bhd as at 31 Dec 2021. a) 10%
Question:
The following is the trial balance of Zachy Sdn bhd as at 31 Dec 2021.
a) 10% discount on a purchase of RM15,000
b) Inventories as of 31 Dec 2021 was RM 45,000
c) Drawing during the year are as follows
i) Cash - RM 1,000
ii) Include in Sundry expenses, payment for his personal matters - RM 1,500
d) Loan received from bank RM 100,000 on 1 July 2021 @ 5% per annum. Interest payment made accordingly on 31 Dec 2021. No Principal Payment required.
e) Depreciation on cost
i) Motor vehicles 10% per annum (straight line method)
ii) Fixtures 10% per annum (reducing balance method)
f) The Provision for bad debts as of 31 Dec 2021 - RM 9,000
g) Posting Error
h) Communication Expenses - One of the transactions recorded as RM 1,000 instead of RM 100 Dr Bank Cr Communication Expenses
Expert Answer:
A a 10 Discount on a Purchase of RM15000 The 10 discount on the purchase of RM15000 would have an effect on the trial balance of Zachy Sdn Bhd The 10 discount results in the purchase being reduced to ... View the full answer
