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Tutorial 9 – Year End Adjustments Additional information:

1. Advertising in arrears as at 30 June year 2 amounted to RM200
2. Electricity bill of RM150 has been paid in advance as at 30 June year 2
Question 1: 3. According to the rental agreement, the monthly rental is RM1,000 per
month. As at 30 June year 2, 4 months’ rental has yet to be received.
The following information was extracted from Ah Chong Enterprise. The
revenue / expenses for the year ended 31 December 20X1 was as follows: Required:
Prepare the following financial statements for Armani Sdn. Bhd.:
Question (a) (b) (c) (d) (a) Statement of Profit or Loss (extract) for the year ended 30 June Year 2;
Items Expenses Expenses Revenues Revenues (b) Statement of Financial Position (extract) as at 30 June year 2.
Amount RM7,000 RM8,000 RM7,500 RM9,000
Due on 31 Jan 20X2 15 Nov 20X1 15 Jan 20X2 13 Nov 20X1 Question 3:
Paid on/ 5 Dec 20X1 3 Jan 20X2 1 Dec 20X1 1 Feb 20X2
Received The Trial Balance (extract) for Smith as at 31 August year 2 is as follows:
on DR CR
Types RM RM
Commission received 3,650
Rental received 6,000
SOPL Expenses (-) Expenses (+) Income (-) Income (+)
Rental paid 4,400
Insurance paid 1,600
SOFP Current Current Current Current Assets
Assets Liabilities Liabilities
At 31 August year 2 there was:
i. Rent of RM400 not yet paid
Required: ii. Insurance inclusive RM300 paid in advance
Complete the above table.
iii. Commission of RM350 not yet received for the month of August
iv. 15 months rental was received which inclusive 3 months deposit
Question 2:

The following is an extract of the Statement of Financial Position of Armani Required:

Sdn Bhd: (a) Prepare extracts of the Statement of Profit or Loss for the year ended 31
August year 2
Receipts and payments account (extract) for the year ended 30 June year 2
(b) Prepare extracts of the Statement of Financial Position as at that date.
Receipts RM Payments RM
Rent received 10,000 Advertising 600
Electricity 1,000
 2

Question 4:

The following is an extract of the Statement of Financial Position of Delta

Sdn Bhd:

Receipts and payments account (extract) for the year ended 30 June year 1
Receipts RM Payments RM
Commission 10,000 Insurance 600
Rental 8,000 Utility bills 1,000

Additional information:
1. Commission received in advance as at 30 June year 1 amounted to
RM1,000.
2. Monthly rental is RM400, however, the rental of June Year 1 has yet to
be received.
3. Utility bill of RM150 has yet to be paid as at 30 June year 1.
4. Prepaid insurance as at 30 June year 1 amounted to RM100.

Required:
Prepare the following financial statements for Delta Sdn. Bhd.:
(a) Statement of Profit or Loss (extract) for the year ended 30 June Year 1;
(b) Statement of Financial Position (extract) as at 30 June year 1.