Answer below Financial and Cost Accounting question The following trial balance...

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Answer below Financial and Cost Accounting question

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The following trial balance was extracted from the books of Eliza Boutique as at 31 March 2010. DebitCredit (RM)(RM) Inventory as at 1 April 2009 Sales and Purchases return Carriage inwards Duty on purchases Carriage outwards Purchases and Sales. Discount received Insurance on purchases Commission received Shop rental 7,000 60,000300,000 5,400 Discount allowed2,600 Interest expense Allowance for doubtful debts Accumulated depreciation - Delivery van - Costumes cabinet -Office equipment Delivery varn Costurnes cabinet Office equipment Accounts receivable Accounts payable Telephone and electricity commission 28,000 12,000 10,000 100,000 10,000 , Insurance Bad debts 1,000 Petty cash Loan from Bank Rakyat (10% per annum) Drawings Capital 144,800 The following adjustments need to be considered (a) The shop rental is RM1,000 per month. It was paid in advance for two months (b) Salary for fashion designer amounting to RM1,500 still unpaid (e) Interest on loan from Bank Rakyat for half a year was outstanding (d) One of the customers was declared bankrupt and unable to settle his debts. The customer still owed RM2,000. (e) Allowance for doubtful debts on sundry accounts receivable need to be provided at 5%. () An annual depreciation needs to be provided as follows Delivery van Costumes cabinet Office cquipment 20% on cost 10% straight line basis 10% on cost The following trial balance was extracted from the books of Eliza Boutique as at 31 March 2010. DebitCredit (RM)(RM) Inventory as at 1 April 2009 Sales and Purchases return Carriage inwards Duty on purchases Carriage outwards Purchases and Sales. Discount received Insurance on purchases Commission received Shop rental 7,000 60,000300,000 5,400 Discount allowed2,600 Interest expense Allowance for doubtful debts Accumulated depreciation - Delivery van - Costumes cabinet -Office equipment Delivery varn Costurnes cabinet Office equipment Accounts receivable Accounts payable Telephone and electricity commission 28,000 12,000 10,000 100,000 10,000 , Insurance Bad debts 1,000 Petty cash Loan from Bank Rakyat (10% per annum) Drawings Capital 144,800 The following adjustments need to be considered (a) The shop rental is RM1,000 per month. It was paid in advance for two months (b) Salary for fashion designer amounting to RM1,500 still unpaid (e) Interest on loan from Bank Rakyat for half a year was outstanding (d) One of the customers was declared bankrupt and unable to settle his debts. The customer still owed RM2,000. (e) Allowance for doubtful debts on sundry accounts receivable need to be provided at 5%. () An annual depreciation needs to be provided as follows Delivery van Costumes cabinet Office cquipment 20% on cost 10% straight line basis 10% on cost

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