An unadjusted trial balance of DRS Enterprise on 31 December 2020 is as follows:

DRS Enterprise

Unadjusted Trial Balance as at 31 December 2020 Accounts Debit (RM) Credit (RM)

Cash in hand 480 Cash at bank 135,000 Accounts receivables and Account payable 277,500 285,000 Provision for doubtful debts 2500 Inventory as at 1 January 2020 4,500 Office equipment 75,000 Accumulated depreciation - office equipment 30,000 Building 187,500 Accumulated depreciation - building 97,500 Prepaid insurance 18,000 Unearned rent 33,750 Capital 264,945 Drawings 48,750 Purchases and Sales 155,000 330,340 Return Inward and Return Outwards 1,340 585 Salaries and wages 129,000 Utilities 2,800 Miscellaneous expense 9,750 Total 1,044,620 1,044,620

The following adjustments are not considered in the accounting period ended 31 December 2020. (i) Inventory on 31 December 2020 was RM3,375. (ii) Depreciation of office equipment is at the rate of 10% per year based on the straight-line method. Depreciation of the building is at the rate of 5% on book value. (iii) Paid supplier on account by cheque, RM3,750. (iv) Rent earned on 31 December 2020 is RM8,500. (v) Accrued salaries and wages on 31 December are RM9,375. (vi) Prepaid insurance represented for premiums on policies for the next six months starting 1 October 2020. (vii) Provision for doubtful debts is to be maintained at 1% of closing account receivables.

Required: a) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020. b) Prepare Statement of Financial Position as at 31 December 2020.

An unadjusted trial balance of DRS Enterprise on 31 December 2020 is as follows: [Imbangan duga tidak terlaras DRS Enterprise pada 31 Disember 2020 adalah seperti berikut: DRS Enterprise Unadjusted Trial Balance as at 31 December 2020 Accounts Debit (RM) Credit (RM) Cash in hand 480 Cash at bank 135,000 Accounts receivables and Account payable 277,500 285,000 Provision for doubtful debts 2500 Inventory as at 1 January 2020 4,500 Office equipment 75,000 Accumulated depreciation - office equipment 30,000 Building 187,500 Accumulated depreciation - building 97,500 Prepaid insurance 18,000 Unearned rent 33,750 Capital 264,945 Drawings 48,750 Purchases and Sales 155,000 330,340 Return Inward and Return Outwards 1,340 585 Salaries and wages 129,000 Utilities 2,800 Miscellaneous expense 9,750 Total 1,044,620 1,044,620 The following adjustments are not considered in the accounting period ended 31 December 2020. [Pelarasan-pelarasan berikut tidak diambil kira dalam tempoh perakaunan berakhir 31 Disember 2020.] (i) Inventory on 31 December 2020 was RM3,375. [Inventori pada 31 Disember 2020 adalah RM3,375.) (ii) Depreciation of office equipment is at the rate of 10% per year based on the straight-line method. Depreciation of the building is at the rate of 5% on book value. [Susut nilai peralatan pejabat adalah pada kadar 10% setahun berdasarkan kaedah garis lurus. Susut nilai bangunan adalah pada kadar 5% atas nilai buku.] (iii) Paid supplier on account by cheque, RM3,750. (Bayar akaun pembekal dengan cek, RM3,750.] (iv) Rent earned on 31 December 2020 is RM8,500. (Sewa diperoleh pada 31 Disember 2020 adalah RM8,500.) (v) Accrued salaries and wages on 31 December are RM9,375. [Gaji dan upah terakru pada 31 Disember adalah RM9,375.] (vi) Prepaid insurance represented for premiums on policies for the next six months starting 1 October 2020. [Insuran terdahulu diwakili untuk premium ke atas polisi untuk enam bulan akan datang bermula 1 Oktober 2020.] (vii) Provision for doubtful debts is to be maintained at 1% of closing account receivables. [Peruntukan hutang ragu akan dikekalkan pada 1% daripada penutupan akaun belum terima. (viii) The total withdrawals for the period are RM7,500 in cash for personal use. [Jumlah pengeluaran untuk kegunaan sendiri adalah RM7,500 tunai.] Required: [Dikehendaki:] a) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020. [Sediakan Penyata Untung atau Rugi dan Pendapatan Komprehensif Lain bagi tahun berakhir 31 Disember 2020.] b) Prepare Statement of Financial Position as at 31 December 2020. [Sediakan Penyata Kedudukan Kewangan pada 31 Disember 2020.]