The balance of ABC Sdn. Bhd. as at March 31, 2009, is as follow:
|
ABC Sdn. Bhd. |
|
|
For the Month ended March 31, 2009 |
|
|
Balance |
|
|
RM |
|
|
Cash |
5,900 |
|
Account receivable |
2,500 |
|
Supplies |
1,300 |
|
Equipment |
8,000 |
|
Accumulated depreciation Equipment |
1,800 |
|
Account payable |
2,900 |
|
Unearned revenue |
390 |
|
Tan, capital |
9,000 |
|
Tan, drawing |
500 |
|
Prepaid rent |
3,200 |
|
Service revenue |
8,210 |
|
Salaries expense |
800 |
|
Miscellaneous expense |
100 |
Other data:
- A physical count reveals only RM 180 of supplies on hand.
- Depreciation for March is RM 300.
- Unearned revenue amounted to RM 250 after adjustment on March 31.
- Accrued salaries are RM 450.
- Prepaid rent expired, RM 800.
Instructions:
a) Enter the trial balance on a work sheet and complete the work sheet.
b) Journalize the adjusting entries from the adjustments columns of the work sheet.
c) Journalize the closing entries from the financial statement columns of the work sheet.
d) Prepare an Income Statement for the month ended 31 March 2009.
e) Prepare a Balance Sheet as at March 31, 2009.