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Case study 1 marketing expenses should be on the debit side not credit

Account receivables = RM25,683

Case Study 1 John is the owner of Excel Machines Enterprise which sells printers and photocopy machines. The shop is located in Kuala Lumpur. The following information has been extracted from the ledgers as at 31 December 2021. You are required to prepare financial statements for the year ending 31 December 2021 and answer the following questions. On 31 December 2021, these are the additional information: a) Inventory was valued at RM5.861. b) Actual salary expenses for a year is RM60,000. c) Motor vehicles are depreciated at 15% using reducing balance method and machineries are depreciated at 20% using straight line method. d) The allowance for doubtful debts is RM3,866. For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the total current liabilities. Select one: a. RM42,426 b. RM32,246 c. RM42,246 d. RM32,426 For the following question. please refer to Case Study 1 (refer to Times main page). How much is the net account receivables after adjustments? Select one: a. RM25,150 b. RM21,817 c. RM25,510 d. RM22,350 For the following question, please refer to Case Study 1 (refer to Times main page). Compute total depreciation expenses for the current year for all non-current assets. Select one: a. RM19,000 b. RM22,117 c. RM16,275 d. RM55,477 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the total operational expenses. Select one: a. RM104,651 b. RM104,118 c. RM100,785 d. RM101,318 For the following question, please refer to Case Study 1 (refer to Times main page). Calculate the gross profit. Select one: a. RM24,864 b. RM30,797 c. RM32,122 d. RM36,158 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the net motor vehicles after adjustment. Select one: a. RM20,780 b. RM17,663 c. RM26,345 d. RM49,040 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the net sales. Select one: a. RM62,320 b. RM56,959 c. RM22,242 d. RM29,500 For the following question, please refer to Case Study 1 (refer to Times main page). Compute the closing capital. Select one: a. RM72,095 b. RM23,070 c. RM166,471 d. RM14,345 For the following question, please refer to Case Study 1 (refer to Times main page). Calculate the total non - current assets. Select one: a. RM71,065 b. RM71,056 c. RM66,703 d. RM72,095 For the following question, please refer to Case Study 1 (refer to Times main page). Compute the net machineries after adjustment. Select one: a. RM95,000 b. RM68,040 c. RM49.040 d. RM54,432 For the following question. please refer to Case Study 1 (refer to Times main page). Compute the net profit. Select one: a. - RMSB,988 b. - RMS5,122 C. RM58,455 d - RM55,655 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the total current assets. Select one: a. RM72,095 b. RM100,301 c. RMM10101 d. RM99,768 For the following question, please refer to Case Study 1 (refer to Times main page). Calculate total assets. Select one: a. RM169,804 b. RM144,190 c. RM166,471 d. RM176,004 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate total liabilities. Select one: a. RM142,126 b. RM109,700 CRM142,216 d. RM152,126 For the following question. please refer to Case Study 1 (refer to Times main page). Calculate the net assets. Select one: a. RM23,070 b. RM166,471 c. RM72,095 d. RM14,345 For the following question. please refer to Case Study 1 (refer to Times main page). How much is the total cost of goods sold? Select one: a. RM26,162 b. RM24,837 c. RM33,420 d. RM32,095

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