Macha Drinks Enterprise, rented part of its premise to a client, Burger Jaya Bhd for a monthly rent of RM500. On December 1, Burger Jaya Bhd paid for 3 months rental in advance amounting to RM1,500.
Required a. Prepare the journal and ledger entries at Dec 1 and the subsequent adjusting entries at year end, Dec 31 for Macha Drinks Enterprise. Provide a narration for the joumal entries.
b. Prepare Final Statements under i. Cash Basis Accounting ii. Accrual Basis Accounting
(10 marks)
(4 marks)
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