1. prepare the statement of profit or loss

2. prepare the statement of financial position

Particular Debit (RM) Credit (RM) 1. Cash 491,585 2. Capital 50,000 3. Furniture 18,430 4 Office Talk Co 0 0 (Account payable) 5. Lorries 10,000 6. 6 Prepaid insurance 2.750 7. Air conditioner 6,100 8. 0 0 0 0 Smart Tech (Account Payable ) 9. 0 0 Mr Gale (Account Receivable) 10. Rent Expense 3,500 11. Prepaid Rent 21,000 12. Bank Loan 450,000 13. Omega Inc (Account Receivable) 0 0 14. Madam Bella (Account Receivable) 4.100 15. Discount received 305 16. Advertising expense 1,500 17. Advancing from Art Co. 27.500 18. Drawings 2,000 19. Telephone expense 373 20. Telephone expense payable 373 21. Salary expense 1,500 22. Utility expense 2,200 Total 546,608 546,608 Particular Debit (RM) Credit (RM) 1. Cash 491,585 2. Capital 50,000 3. Furniture 18,430 4 Office Talk Co 0 0 (Account payable) 5. Lorries 10,000 6. 6 Prepaid insurance 2.750 7. Air conditioner 6,100 8. 0 0 0 0 Smart Tech (Account Payable ) 9. 0 0 Mr Gale (Account Receivable) 10. Rent Expense 3,500 11. Prepaid Rent 21,000 12. Bank Loan 450,000 13. Omega Inc (Account Receivable) 0 0 14. Madam Bella (Account Receivable) 4.100 15. Discount received 305 16. Advertising expense 1,500 17. Advancing from Art Co. 27.500 18. Drawings 2,000 19. Telephone expense 373 20. Telephone expense payable 373 21. Salary expense 1,500 22. Utility expense 2,200 Total 546,608 546,608