2:21 Shopee 4G Back QUESTION SET K_QP_0422 Meera Khan Ent, a retailer of Covid-19 self-test kits, had not maintained his business records on the basis of double entry system because he has little knowledge of bookkeeping procedure. From his limited records as at 31 December 2020, the following information was obtained: i. Stock counted at the end of December 2020 was worth RM26,600. ii. He had RM15,400 in his business bank account. iii. He had a personal computer in the office which he bought for RM5,000 and this has been depreciated by RM3,000 per annum. iv. His business premises were valued at RM250,000 and no depreciation provided for this asset. v. Office furniture and fittings were worth RM2,000 and this has been depreciated by RM200 per annum. vi. The balance of his trade receivables and trade payables was RM12,350 and RM13,500 respectively. During the year ended 31 December 2021 he recorded the following information: Cash receipts Sales Additional capital RM 34,000 20,000 Cash received from trade receivables 61,000 Cash payments Sales assistant's wages RM 6,000 Purchased second hand van 30,000 Sundry expenses Purchases Utility bills 2,600 36,000 1,400 Payment to trade payables 37,000 Interest charged to trade receivables was RM250 and bad debts amounted RM60 was written off during the year. Goods returned by credit customers were valued at RM350 and discount allowed were RM2,000. Information gathered at 31 December 2021 was as follows: The balance of his trade payables and trade receivables were RM15,800 and RM24,350 respectively. Store clerk conducted a stock take which showed a value of RM23,400 goods at cost value. Required: a. Calculate total sales and total purchases for the year ended 31 December 2021. (12 points) b. Prepare cash account. (10 points) c. Prepare Statement of Comprehensive Income for the year ended 31 December 2021. (16 points) d. Prepare Statement of Financial Position as at 31 December 2021.(12 points) (Show ALL workings) TOTAL 50 POINTS END OF QUESTION