Unadjusted and adjusted trial balances for Budi Service Center (BSC) on March 31, 2020 are as...

 

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Unadjusted and adjusted trial balances for Budi Service Center (BSC) on March 31, 2020 are as follows Budi Service Center (BSC) Trial Balance as at March 31, 2014 Unadjusted Debit Adjusted Debit Credit Credit (RM) (RM) 11,300 16,340 1,045 1,100 26,700 (RM) (RM) 11,300 17,140 645 450 Cash Accounts Receivable Supplies Prepaid Advertising Building Accumulated Depreciation - Building Accounts Payable Unearned Services Revenue Budi, Capital Services Revenue Salaries Expense Utilities Expense Advertising Expense Supplies Expense Depreciation Expense 26,700 1,300 3,320 4,410 17,905 72,400 6,300 3,500 3,010 17,905 74,600 34,500 5,450 2,900 34,500 5,630 3,550 400 5,000 99.335 99,335 105,315 105,315 Required: Explain SIX (6) reasons for the changes in the account balances from the unadjusted to the adjusted trial balance a) b) Prepare the journal entries to record the changes identified in a). Prepare the Statement of Income for BSC for the year ended March 31, 2020 Prepare the Statement of Financial Position for BSC as at March 31. 2020 If adjustments are not made, explain the effect to the income stateimeat and statettent of financial positon using ONE (1) example of the above tral balatice. Unadjusted and adjusted trial balances for Budi Service Center (BSC) on March 31, 2020 are as follows Budi Service Center (BSC) Trial Balance as at March 31, 2014 Unadjusted Debit Adjusted Debit Credit Credit (RM) (RM) 11,300 16,340 1,045 1,100 26,700 (RM) (RM) 11,300 17,140 645 450 Cash Accounts Receivable Supplies Prepaid Advertising Building Accumulated Depreciation - Building Accounts Payable Unearned Services Revenue Budi, Capital Services Revenue Salaries Expense Utilities Expense Advertising Expense Supplies Expense Depreciation Expense 26,700 1,300 3,320 4,410 17,905 72,400 6,300 3,500 3,010 17,905 74,600 34,500 5,450 2,900 34,500 5,630 3,550 400 5,000 99.335 99,335 105,315 105,315 Required: Explain SIX (6) reasons for the changes in the account balances from the unadjusted to the adjusted trial balance a) b) Prepare the journal entries to record the changes identified in a). Prepare the Statement of Income for BSC for the year ended March 31, 2020 Prepare the Statement of Financial Position for BSC as at March 31. 2020 If adjustments are not made, explain the effect to the income stateimeat and statettent of financial positon using ONE (1) example of the above tral balatice.

Answer rating: 100% (QA)

Prepare worksheet as follows Prepare adjusting entries as follows Trn Account Titles Debi... View the full answer