Page 79 - Ebook Financial Accounting 3
P. 79
Retained Earning 39 290
LONG TERM LIABILITIES
Debenture 45 000 _______
608 740
Notes to Accounts:
1. Insurance
Total payment = RM2400
2020 (2400/12 *10mth) = 2000 – (SOCI)
2021 (200*2mth) = 400 – Prepaid (SOFP)
2. Rent
Rent = RM 8 800
Accrued Rent = RM 800 – Accrued (SOFP)
Total Rent = RM 9 600 – (SOCI)
3. Depreciation:
Assets Cost Depreciation Accumulated Dep Net Book
Value
Machine 60,000 60 000 * 0.1 = 6 000 24 000 + 6000 = 30 000 60 000
-30 000
30 000
Vehicle 30,000 (30000 – 1000) * 0.1 2900 + 1000 = 3 900 30 000
=2 900 -3 900
26 100
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