The following list of balances was extracted from the books of Super Maju Enterprise as...
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Accounting
The following list of balances was extracted from the books of Super Maju Enterprise as at 31 December 2021. The following additional information is available as at 31 December 2021: a) Rent revenue received in advance amounting to RM750. b) The loan from Affin Bank was taken on 1 July 2021 and the interest charged is 8% per annum. c) Depreciation: Motor vehicle -20\% per annum on reducing balance method. Fixtures and fittings - 10% per annum on straight line method. d) Rate accrued was RM50. e) Insurance expenses amounting to RM360 is for January 2022. f) Commission revenue of RM500 was still not received. g) Provision for doubtful debts should be increased by RM750. h) The owner took RM1,000 cash to pay his son's hospital bill. i) Inventory as at 31 December 2021 is RM 19,050
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