Trial balance

ACCOUNTS DEBIT RM CREDIT RM

CASH 31,050
ACCOUNTS RECEIVABLE 202,500
SUPPLIES 48,600
MOTOR VEHICLE 1,023,300
ACCUMULATED OF DEP - MV
ACCOUNTS PAYABLE 47,250
ACCURED UTILITIES EXPENSES
UNEARNED REVENUE 54,000
CAPITAL 702,000
DRAWINGS 40,500
REVENUE 1,221,750
SUPPLIES EXPENSE
DEPRECIATION OF MV
SALARY EXPENSE 283,500
PETROL EXPENSE 24,300
RENT EXPENSE 72,000
INSURANCE EXPENSE 144,000
UTILITIES EXPENSE 155,250
TOTAL 2,025,000 2,025,000

Trial Balance Adjustment

Dr. Cr. Dr. Cr.
Accounts
(RM) (RM) (RM) (RM)
Cash 31,050
Accounts receivable 202,500 (3) 15,975
Supplies 48,600 (1) 37,800
Motor vehicles 1,023,300

Accumulated depreciation for motor (2)

vehicle 36,900

Account payable 47,250

Accured utilities expenses (5) 5,400

Unearned revenue 54,000 (4) 32,400

Capital 702,000
Drawings 40,500
(3)(4)
Revenue 1,221,750
48,375
Supplies expenses (1) 37,800

Depreciation expenses (2) 36,900

Salary expense 283,500

Petrol expense 24,300
Rent expense 72,000
Insurance expense 144,000
Utilities expense 155,250 (5) 5,400
Total 2,025,000 2,025,000 128,475 128,475

Supplies Account – Supplies Account = Supplies Expenses

(Opening Balance) (Current Balance)
RM48,600 – RM10,800 = RM37,800

Revenue 1,270,125
Supplies expenses 37,800
Depreciation expenses 36,900
Salary expense 283,500
Petrol expense 24,300
Rent expense 72,000
Insurance expense 144,000
Utilities expense 160,650
759,150 1,270,125

Absolute Berhad
Income Statement
For the year ended 31 December 2018

RM RM
Revenue 1,270,125

1,270,125

Supplies
37,800
expenses
Depreciation
36,900
expenses
Salary expense 283,500
Petrol expense 24,300
Rent expense 72,000
Insurance
144,000
expense
Utilities
160,650 (759,150)
expense
Net Profit 510,975
 Absolute Berhad
Statement of Changes in Owner's Equity
For the year ended 31 December 2018
RM
Capital Absolute, 31 December 2018 702,000* from income statement
Net profit 510,975
Drawings (40,500)*

Capital Absolute, 31 December 2018 1,172,475 will be reported in the balance sheet
 Trial balance ADJUSTMENT ADJUSTED TB
DEBIT RM CREDIT RM DEBIT RM CREDIT RM DEBIT RM CREDIT RM
31,050 31,050
202,500 15,975 218,475
48,600 37,800 10,800
1,023,300 1,023,300
36,900 36,900
47,250 47,250
5,400 5,400
54,000 32,400 21,600
702,000 702,000
40,500 40,500
1,221,750 48,375 1,270,125
37,800 37,800
36,900 36,900
283,500 283,500
24,300 24,300
72,000 72,000
144,000 144,000
155,250 5,400 160,650
2,025,000 2,025,000 128,475 128,475 2,083,275 2,083,275

Adjusted Trial Balance

Dr. Cr.
(RM) (RM)
31,050
218,475
10,800 15,975
1,023,300

36,900

47,250

5,400

21,600
702,000 32,400
40,500
1,270,125
37,800

36,900 37,800

283,500 36,900
24,300
 72,000
144,000
160,650
2,083,275 2,083,275 5,400
128,475

ses
37,800

RM RM
Total Revenue 1,270,125
Total Expenses (759,150)
Net Profit 510, 975
 Absolute Berhad
Balance Sheet as at 31 December 2010
RM RM RM
Non-current assets:
Motor vehicle 1,023,300
Accumulated depreciation for motor vehicle (36,900)
986,400
Current assets:
Cash 31,050
Accounts receivable 218,475
Supplies 10,800 260,325
Less: Current Liabilities:
Account payable 47,250
Unearned revenue 21,600
Utilities accured 5,400 (74,250)
Net current assets 186, 075
1,172,475
Finance by:
Owner's Equity
1,172,475
Capital, Absolute
1,172,475