12 points Save Answer RM 278,050 30,000 89,000 Fobam Sdn. Bhd. Trial Balance as at 30 November 2020 Account RM Bank overdraft Vehicle rental expense 72,000 Cash at bank 7,500 Investment in government bonds 400,000 Interest revenue Insurance expense 3,000 Land 230,000 Buildings 1,000,000 Office furniture and equipment 127.000 Retained earnings (1st Dec 2019) Accum. depr.- office furniture and equipment Accum. depr. - buildings Cost of sales 208,600 Prepaid advertising expense 12,300 Sales returns and allowances 8,700 Sales Mortgage payable Inventory 124,000 Ordinary share capital Preference share capital General reserve 11,300 Interest expense on overdraft Discount received and allowed 13,000 Rental revenue 210.700 Accounts payable and receivable 23,000 100,000 683,320 90,000 1.140,000 250,000 33,000 15,250 27.900 219.700 Status: Prepaid advertising expense 12,300 Sales returns and allowances Sales 8,700 Mortgage payable 683,320 90,000 Inventory 124,000 Ordinary share capital 1,140,000 Preference share capital 250,000 General reserve 33,000 Interest expense on overdraft 11,300 Discount received and allowed 13,000 15,250 Rental revenue 27.900 Accounts payable and receivable 210,700 219,700 Salaries of sales staff 60,000 Administrative wages 148,620 Income tax paid 6,500 Directors' remuneration 150,000 Preference dividend 36,000 Ordinary dividend 150.000 2.979,220 2.979,220 Additional information available on 30 November 2020: . Inventory was valued at RM122.000 ii. Provide for 10% per annum depreciation on cost of buildings and 5% per annum depreciation on cost of office furniture and equipment 1. It was found that one third of the interest revenue RM30,000 should be reported in the next financial reporting period. I of the Prepaid Advertising expense account balance of RM12, 300, RM3,300 is paid to the local newspaper for advertising space in November 2020 papers. The remainder if the balance is used up by January 2021 Salaries of RM10,000 were still owed to employees. vi. Accrued insurance expense were RM1,000, vii. An amount of RM20,000 is to be transferred from general reserve to retained earnings 9 November 2020 Damitird Ordinary dividend 150,000 2,979,220 2,979,220 Additional information available on 30 November 2020: i. Inventory was valued at RM122,000. 4. Provide for 10% per annum depreciation on cost of buildings and 5% per annum depreciation on cost of office furniture and equipment iii. It was found that one third of the interest revenue RM30,000 should be reported in the next financial reporting period. iv. Of the Prepaid Advertising expense account balance of RM12,300; RM3,300 is paid to the local newspaper for advertising space in Nove papers. The remainder if the balance is used up by January 2021. v. Salaries of RM10,000 were still owed to employees. vi. Accrued insurance expense were RM1,000. vii. An amount of RM20,000 is to be transferred from general reserve to retained earnings Required: Calculate the following items required for the preparation of financial statements for Fobam Sdn. Bhd. for the year ended 30 November 2020. Gross profit = Total revenues = Total expenses = Net profit/loss = +/- Total assets = Total liabilities Moving to another gui will save this response