ARIFF ZAKEE TAILOR

ADJUSTED TRIAL BALANCE AS AT 31 DECEMBER 2015

TRIAL BALANCE ADJUSTING ENTRIES

DEBIT CREDIT DEBIT CREDIT

Sewing equipments 145,000

Accumulated depreciation 29,000 29,000 (a)
Salaries 20,800
Insurance 14,000 2,000 (b)
General expenses 12,000
Rental of premise 24,000
Telephone expense 4,364 490 (c)
Debtors 14,698
Creditors 15,774
Sewing charges 105,490
Bank overdraft 2,598
Owner's capital 100,000
Drawings 18,000
Depreciation 29,000 (a)
Prepaid insurance 2,000 (b)
Accrued telephone expenses 490 (c)

252,862 252,862 31,490 31,490

15
INCOME STATEMENT OF ARIFF ZAKEE TAILOR
FOR THE YEAR ENDED 31 DECEMBER 2010
ADJUSTED TRIAL BALANCE
DEBIT CREDIT RM RM

145,000 Sewing charges 105,490

58,000
20,800 Gross Profit 105,490
12,000
12,000
24,000 Expenses
4,854 Salaries 20,800
14,698 Insurance 12,000
15,774 General expenses 12,000
105,490 Rental of premise 24,000
2,598 Telephone expense 4,854
100,000 Depreciation 29,000 102,654
18,000 2,836
29,000
2,000
490
STATEMENT OF OWNER'S EQUITY AS AT 31 DECEMBER 2010
282,352 282,352
RM
Owner's capital 100,000
Add: Net Profit 2,836
102,836
Less: Drawings (18,000)
Capital as at 31 Dec 2010 84,836
 BALANCE SHEET OF ARIFF ZAKEE TAILOR
AS AT 31 DECEMBER 2010
RM RM RM
FIXED ASSTES

Sewing equipments 145,000

Less:
Accumulated depreciation (58,000)
87,000
CURRENT ASSETS
Debtors 14,698
Prepaid insurance 2,000
16,698
Less:
CURRENT LIABILITIES
Creditors 15,774
Bank overdraft 2,598
Accrued telephone expenses 490
18,862
NET CURRENT ASSTES (2,164)
TOTAL ASSETS 84,836
31 DECEMBER 2010

FINANCED BY:
Capital as at 31 Dec 2010 84,836
 ARTY DUTY ENTERPRISE
ADJUSTED TRIAL BALANCE AS AT 31 DECEMBER 2015

TRIAL BALANCE ADJUSTING ENTRIES

DEBIT CREDIT DEBIT CREDIT

Cash at bank 49,000

Stocks 12,700 22,450 (e) 12,700 (d)
Motor vehicle 55,000
Accumulated depreciation - MV 24,063 7,734 (a)
Creditors 7,750
Insurance 2,640 528 (b)
Purchases 65,800
Sales 97,237
Capital 80,000
Rent 6,000
Telephone 870
Return inwards 2,190
Carriage outwards 450
Wages 14,400 3,800 (c)
Depreciation 7,734 (a)
Prepaid insurance 528 (b)
Accrued wages 3,800 (c)
Opening stock 12,700 (d)
Closing stock 22,450 (e)

209,050 209,050 47,212 47,212

 INCOME STATEMENT OF ARTY DUTY ENTERPRISE
ADJUSTED TRIAL BALANCE FOR THE YEAR ENDED 31 DECEMBER 2010
DEBIT CREDIT RM RM

49,000 Sales 97,237

22,450 Less:
55,000 Return inwards (2,190)
31,797 95,047
7,750
2,112 Cost of Goods Sold
65,800 Opening stock 12,700
97,237 Purchases 65,800
80,000 Closing stock (22,450)
6,000 56,050
870 Gross Profit 38,997
2,190
450 Less: Expenses
18,200 Rent 6,000
7,734 Telephone 870
528 Carriage outwards 450
3,800 Wages 18,200
12,700 Depreciation 7,734
22,450 Insurance 2,112
35,366
243,034 243,034 3,631