KL Sports Centre Final Accounts Assignment: Adjustments, Journal Entries, and Financial Statements for 20×9

The following information is to be taken into consideration:

1. Inventory as at 31 December 20×9 is RM77,000.
2. A fixed deposit account was opened on 1 July 20×9 and the dividend is at 5% per annum.
3. Depreciation are to be provided as follows:
   1. Motor vehicles are to be depreciated at 10% per annum using the straight-line method.
   2. Office equipment is to be depreciated at 7% per annum on net book value.
4. Allowance for doubtful debts is to be adjusted to 3% on net balance of accounts receivable.
5. Motor vehicles expenses included RM4,800 for motor vehicle insurance and RM600 for road tax. Both were renewed on 1 September 20×9 and covered a 12-month period.
6. On 31 December 20×9, outstanding salaries amounted to RM2,400.
7. The owner of KL Sports Centre withdrew RM200 cash on 15 December 20×9, but had totally forgotten to record the transaction.
8. Rental amounting to RM1,600 for the month of January 20×0 was received on 27 December 20×9.
9. RM1,800 worth of purchases was recorded twice by mistake.
10. RM2,400 of discount allowed was wrongly posted to discount received.