Please can i have the answer Question 1[Soalan 1]An unadjusted trial balance of DRS Enterprise on 31 December 2020 is as follows:[Imbangan duga tidak terlaras DRS Enterprise pada 31 Disember 2020 adalah seperti berikut:]DRS EnterpriseUnadjusted Trial Balance as at 31 December 2020AccountsDebit (RM)Credit (RM)Cash in hand480Cash at bank135,000277,500Accounts receivables and Account payable285,000Provision for doubtful debts2500Inventory as at 1 January 2020Office equipment| Accumulated depreciation - office equipmentBuilding| Accumulated depreciation - buildingPrepaid insurance4,50075,00030,000187,50097,50018,000Unearned rent33,750264,945СapitalDrawingsPurchases and Sales48,750155,000330,340Return Inward and Return Outwards1,340129,000585Salaries and wagesUtilities2,800Miscellaneous expense9,750Total1,044,6201,044,620 The following adjustments are not considered in the accounting period ended31 December 2020.[Pelarasan-pelarasan berikut tidak diambil kira dalam tempoh perakaunan berakhir 31 Disember 2020.](i) Inventory on 31 December 2020 was RM3,375.[Inventori pada 31 Disember 2020 adalah RM3,375.](ii) Depreciation of office equipment is at the rate of 10% per year based on the straight-linemethod. Depreciation of the building is at the rate of 5% on book value.[Susut nilai peralatan pejabat adalah pada kadar 10% setahun berdasarkan kaedah garis lurus. Susutnilai bangunan adalah pada kadar 5% atas nilai buku.](iii) Paid supplier on account by cheque, RM3,750.[Bayar akaun pembekal dengan cek, RM3,750.](iv) Rent earned on 31 December 2020 is RM8,500.[Sewa diperoleh pada 31 Disember 2020 adalah RM8,500.](v) Accrued salaries and wages on 31 December are RM9,375.[Gaji dan upah terakru pada 31 Disember adalah RM9,375.](vi) Prepaid insurance represented for premiums on policies for the next six months starting1 October 2020.[Insuran terdahulu diwakili untuk premium ke atas polisi untuk enam bulan akan datang bermula1 Oktober 2020.](vii) Provision for doubtful debts is to be maintained at 1% of closing account receivables.[Peruntukan hutang ragu akan dikekalkan pada 1% daripada penutupan akaun belum terima. ](viii) The total withdrawals for the period are RM7,500 in cash for personal use.[Jumlah pengeluaran untuk kegunaan sendiri adalah RM7,500 tunai.]Required:[Dikehendaki:]a) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended31 December 2020.[Sediakan Penyata Untung atau Rugi dan Pendapatan Komprehensif Lain bagi tahun berakhir31 Disember 2020.]b) Prepare Statement of Financial Position as at 31 December 2020.[Sediakan Penyata Kedudukan Kewangan pada 31 Disember 2020.]

Question 1 [Soalan 1] An unadjusted trial balance of DRS Enterprise on 31 December 2020 is as follows: [Imbangan duga tidak terlaras DRS Enterprise pada 31 Disember 2020 adalah seperti berikut:] DRS Enterprise Unadjusted Trial Balance as at 31 December 2020 Асcounts Debit (RM) Credit (RM) Cash in hand 480 Cash at bank 135,000 277,500 Accounts receivables and Account payable 285,000 Provision for doubtful debts 2500 Inventory as at 1 January 2020 Office equipment Accumulated depreciation - office equipment Building Accumulated depreciation - building Prepaid insurance 4,500 75,000 30,000 187,500 97,500 18,000 Unearned rent 33,750 264,945 Capital Drawings Purchases and Sales 48,750 155,000 330,340 Return Inward and Return Outwards 1,340 585 Salaries and wages 129,000 Utilities 2,800 Miscellaneous expense 9,750 Total 1,044,620 1,044,620

Question 1 [Soalan 1] An unadjusted trial balance of DRS Enterprise on 31 December 2020 is as follows: [Imbangan duga tidak terlaras DRS Enterprise pada 31 Disember 2020 adalah seperti berikut:] DRS Enterprise Unadjusted Trial Balance as at 31 December 2020 Асcounts Debit (RM) Credit (RM) Cash in hand 480 Cash at bank 135,000 277,500 Accounts receivables and Account payable 285,000 Provision for doubtful debts 2500 Inventory as at 1 January 2020 Office equipment Accumulated depreciation - office equipment Building Accumulated depreciation - building Prepaid insurance 4,500 75,000 30,000 187,500 97,500 18,000 Unearned rent 33,750 264,945 Capital Drawings Purchases and Sales 48,750 155,000 330,340 Return Inward and Return Outwards 1,340 585 Salaries and wages 129,000 Utilities 2,800 Miscellaneous expense 9,750 Total 1,044,620 1,044,620

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 92PSB

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