. 2. Maverick Sdn Bhd The following is the trial balance of Maverick Sdn Bhd at 31 March 2021. Dr RM'000 Cr RM'000 50 79 120 160 32 200 40 196 253 Equity share capital Retained earnings 10% Loan notes, repayable 2023 Office equipment Accumulated depreciation Computer equipment Accumulated depreciation Inventory Trade receivables Allowance for receivables Cash Bank Trade payables Administration expenses Selling and distribution expenses Loan note interest Bank overdraft interest Revenue Purchases 26 12 96 89 286 269 8 4,414 3,562 4.946 4,946 Additional information: i) Inventory at 31 March 2021 was RM156,000. ii) Prepaid administration expenses were RM5,000 iii) Accrued selling and distribution expenses were RM26,000. iv) No interest has been accrued for the loan which was taken out on 1 September 2020 v) Depreciation is 20% per annum for office equipment and computer equipment and should be classified as administration expenses. vi) Trade receivable of RM8,000 are irrecoverable and the allowance for receivables was RM32,000 vii) The tax for current year is estimated at RM18,000. 2 Required: For Maverick Sdn Bhd, prepare the followings: (1) Statement of profit or loss for the year ended 31 March 2021 [13 marks) (ii) Statement of financial position as at 31 March 2021. [15 marks] Remark: Round your answer to the nearest thousand. [Total: 28 marks] . 2. Maverick Sdn Bhd The following is the trial balance of Maverick Sdn Bhd at 31 March 2021. Dr RM'000 Cr RM'000 50 79 120 160 32 200 40 196 253 Equity share capital Retained earnings 10% Loan notes, repayable 2023 Office equipment Accumulated depreciation Computer equipment Accumulated depreciation Inventory Trade receivables Allowance for receivables Cash Bank Trade payables Administration expenses Selling and distribution expenses Loan note interest Bank overdraft interest Revenue Purchases 26 12 96 89 286 269 8 4,414 3,562 4.946 4,946 Additional information: i) Inventory at 31 March 2021 was RM156,000. ii) Prepaid administration expenses were RM5,000 iii) Accrued selling and distribution expenses were RM26,000. iv) No interest has been accrued for the loan which was taken out on 1 September 2020 v) Depreciation is 20% per annum for office equipment and computer equipment and should be classified as administration expenses. vi) Trade receivable of RM8,000 are irrecoverable and the allowance for receivables was RM32,000 vii) The tax for current year is estimated at RM18,000. 2 Required: For Maverick Sdn Bhd, prepare the followings: (1) Statement of profit or loss for the year ended 31 March 2021 [13 marks) (ii) Statement of financial position as at 31 March 2021. [15 marks] Remark: Round your answer to the nearest thousand. [Total: 28 marks]