The following is the Trial Balance of Maple Union Berhad at 31 December 2021. DR CR RM RM Machinery at cost Accumulated depreciation as of 1 January 2021- machinery 60,000 10,000 Motor vehicles at cost 50,000 Accumulated depreciation as of 1 January 2021 – motor vehicles 8,000 Furniture & equipment at cost Accumulated depreciation as of 1 January 2021- furniture & equipment Long term loan (repayable on 30 November 2023) 25,000 5,000 30,000 Ordinary share capital 9% preference share capital Trade receivables & payables Allowance for doubtful debts 50,000 30,000 21,000 38,000 400 Sales & purchases Salaries & wages Bank 190,000 24,000 34,500 303,600 Bad debts 600 Returns 2,100 1,600 1,500 4,000 16,000 4,500 1,950 1,850 Discounts Loan interest Telephone expenses Rent, rates and insurance Inventory as of 1 January 2021 Retained earnings as of 1 January 2021 10,000 461,800 461,800
The following is the Trial Balance of Maple Union Berhad at 31 December 2021. DR CR RM RM Machinery at cost Accumulated depreciation as of 1 January 2021- machinery 60,000 10,000 Motor vehicles at cost 50,000 Accumulated depreciation as of 1 January 2021 – motor vehicles 8,000 Furniture & equipment at cost Accumulated depreciation as of 1 January 2021- furniture & equipment Long term loan (repayable on 30 November 2023) 25,000 5,000 30,000 Ordinary share capital 9% preference share capital Trade receivables & payables Allowance for doubtful debts 50,000 30,000 21,000 38,000 400 Sales & purchases Salaries & wages Bank 190,000 24,000 34,500 303,600 Bad debts 600 Returns 2,100 1,600 1,500 4,000 16,000 4,500 1,950 1,850 Discounts Loan interest Telephone expenses Rent, rates and insurance Inventory as of 1 January 2021 Retained earnings as of 1 January 2021 10,000 461,800 461,800
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 11E: On May 10, 2019, Horan Company purchased equipment for 25,000. The equipment has an estimated...
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