QUESTION 1 (20 marks) Following information has been extracted from Dora Enterprise's financial statements. Dora...
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Accounting
QUESTION 1 (20 marks) Following information has been extracted from Dora Enterprise's financial statements. Dora Enterprise Statement of Financial Position as at 31 December 2019 RM Current Asset Prepaid Insurance Prepaid Wages Accrued Interest Received Current Liabilities Unearned Commission Received 320 250 560 830 Credit RM Dora Enterprise Trial Balance as at 31 December 2019 Debit RM Insurance 2,800 Wages 1,950 Interest Received Commission Received 3,600 6,800 Additional information: On 31 December 2019: I. II. III. Prepaid Wages RM450. Accrued interest received RM380. Unearned Commission Received RM200. Required: a) Prepare the following account: I. II. III. IV. V. VI. Insurance Account Wages Account Interest Received Account Commission Received Account Statement of Profit or Loss for the year ended 31 December 2019 Statement of Financial Position as at 31 December 2019 (1.5 marks) (2 marks) (2 marks) (2 marks) (2.5 marks) (2 marks) b) Discuss any TWO (2) accounting concept that is being applied for Dora Enterprise. (8 marks)
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