Question 5 The following year-end unadjusted trial balance is for Jaya as at 31 December 2018. JayaUnadjusted Trial Balance as at 31 December 2018 RM Land 610,000 Building 335,000 Accumulated Depreciation - Building Office Equipment 40,000 Accumulated Depreciation - Equipment Investment in Shares 380,000 Intangible Assets - Licensing Agreement 70,000 Supplies 41,900 Accounts Receivable 106,400 Cash 33,500 Accounts Payable Supplies Payable Long-term Note Payable Jaya , Capital Jaya , Withdrawals 90,000 Services Fees Earned Salaries Expense 213,500 Insurance Expense 25,800 Utilities Expense 32,000 Repair Expense 13,500 Interest Expense 15,000 2,006,600 RM 194,300 16,000 51,000 14,300 310,000 800,000 621,000 2,006,600 8 Additional information: Depreciation on building is at 2% per annum Depreciation on office equipment is at 20% per annum. Doubtful debts are estimated to be 1% of service fees earned. Required: a. Prepare the Statement of Comprehensive Income for the Year Ended 31 December 2018. b. Prepare the Statement of Financial Position as at 31 December 2018.
Question 5
The following year-end unadjusted
Jaya
Unadjusted Trial Balance as at 31 December 2018
|
RM |
||
|
Land |
610,000 |
|
|
Building |
335,000 |
|
|
Accumulated |
||
|
Office Equipment |
40,000 |
|
|
Accumulated Depreciation - Equipment |
||
|
Investment in Shares |
380,000 |
|
|
Intangible Assets - Licensing Agreement |
70,000 |
|
|
Supplies |
41,900 |
|
|
Accounts Receivable |
106,400 |
|
|
Cash |
33,500 |
|
|
Accounts Payable |
||
|
Supplies Payable |
||
|
Long-term Note Payable |
||
|
Jaya , Capital |
||
|
Jaya , Withdrawals |
90,000 |
|
|
Services Fees Earned |
||
|
Salaries Expense |
213,500 |
|
|
Insurance Expense |
25,800 |
|
|
Utilities Expense |
32,000 |
|
|
Repair Expense |
13,500 |
|
|
Interest Expense |
15,000 |
|
|
2,006,600 |
RM
194,300 16,000
51,000
14,300 310,000 800,000
621,000
2,006,600
8
Additional information:
-
Depreciation on building is at 2% per annum
-
Depreciation on office equipment is at 20% per annum.
-
Doubtful debts are estimated to be 1% of service fees earned.
Required:
a. Prepare the Statement of Comprehensive Income for the Year Ended 31 December 2018.
b. Prepare the
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