The following are the financial information about Max for the year 2021: RM 100 180 Items Monthly PTPTN payment Monthly telephone bill Monthly health insurance premiums Tax to government agency unpaid Income working part time accrued Monthly petrol and utilities Motor insurance premium Monthly rent payment Car loan installments overdue Monthly salary (Max) Household furnishing Car loan installments Cash Income working part time PTPTN loan balance Car loan balance Current value of car Savings account 350 370 520 900 1,100 1,200 2,400 4,500 6,000 6,500 7,700 9,500 13,000 18,350 37,500 48,900 a) Prepare a balance sheet as at 31st December 2021 and hence find the net worth.

The following are the financial information about Max for the year 2021: RM 100 180 Items Monthly PTPTN payment Monthly telephone bill Monthly health insurance premiums Tax to government agency unpaid Income working part time accrued Monthly petrol and utilities Motor insurance premium Monthly rent payment Car loan installments overdue Monthly salary (Max) Household furnishing Car loan installments Cash Income working part time PTPTN loan balance Car loan balance Current value of car Savings account 350 370 520 900 1,100 1,200 2,400 4,500 6,000 6,500 7,700 9,500 13,000 18,350 37,500 48,900 a) Prepare a balance sheet as at 31st December 2021 and hence find the net worth.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 4CE

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