Additional information:

By the end of 2021, a manual document review found some errors had occurred. The following errors have been identified:

The cash withdrawal made by the business owner is RM12,500. However, an error occurred at the journal entry stage where the Withdrawal account was recorded at RM13,500 while the Cash account was recorded at RM12,500.

The actual Unpaid Salary account balance as at 31 December 2021 is RM4,800. An error has occurred during the process of transferring the balance of the Payroll account into the Trial Balance.

BE REQUIRED:

a. Prepare the correct Adjusted Trial Balance. (5 MARKS)

b. Prepare a Statement of Profit and Loss and Other Comprehensive Income for the year ended 31 December 2021. (4 MARKS)

c. Prepare Statement of Financial Position as at 31 December 2021. (8 MARKS)

ANSWERS MUST BE TYPED. PLEASE ANSWER ASAP

The following is the Adjusted Trial Balance prepared by an account clerk who has just started his work at Ken-Do Sdn Bhd. There are several errors in the trial balance that cause the debit balance to be out of balance with the credit balance. Ken-Do Sdn Bhd Adjusted Trial Balance 31 December 2021 Debit Credit Cash 135,000 Account not yet received 23,800 Prepaid Insurance 24,000 Office supplies 6,400 Fee Revenue Not Earned Fee 17,900 Revenue 250,000 Rent Not Received 870 Rental Results 4,800 Capital 232,770 Take 13,500 Unpaid Notes 60,000 Machine 78,000 Building 320,000 Depreciation Expenses - Building 1,200 Depreciation Expenses - Accounts 1,500 Payable Machine 46,800 Unpaid Salary 5,800 Salary Spending 4,800 Rent shopping 1,500 Insurance expenses 10,200 Accumulated Depreciation - Machinery 1,200 Accumulated Depreciation - Buildings 1,500 837,570 403,970