Answer ALL questions. Question 1 EPL Enterprise sells computer accessories like keyboard, printer and scanner. The following is the Trial Balance of EPL Enterprise as at 30 April 2021 Trial Balance as at 30 April 2021 Accounts Payable 56,300 Accounts Receivable 98,100 Advertisements & Promotions 45.000 Bank 245.000 Capital at 1 May 2020 500,000 5% Fixed Deposits 50,000 Carriage Inwards 6,280 Carriage Outwards 5,500 Commission Received 11,100 Discount Allowed 900 Discount Received 1.000 21.000 Drawings Electricity & Telephone Accumulated Depreciation 39,000 at 1 May 2020 Premises 4,000 Office Supplies 2,000 Inventory at 1 May 2020 105.000 Land 150,000 Loan (9months) 5.000 10% Mortgage Loan from Bank FB 58.000 20,000 Office Supplies Office Supplies Expense 4.500 Petty Cash 920 Page 1 of 5 Sept.- Des 2021 Fmal Examination B.4100 BB.41093 Briness. Accounting Premises 230,000 Purchases 540,000 Purchases Return 2.300 Salaries & Wages 105,000 Sales 1,029 390 Sales Return 3,500 Allowances for Doubtful Debt as at 1 May 2020 610 1,669,700 1,669,700 Additional Information: Inventory valued at 30April 2021 is RM 90,000 The ixed Deposit account was opened on 1 Nov 2020 and interest is at 5% per annum. No interest has been received during the year. The owner took cash RM500 and goods worth RM3,500 for personal use The loan from Bank FB was taken on 1 May 2020. No interest has been paid on this loan at the end of accounting period. Allowances for Doubtful Debt were to be adjusted to RM723. Depreciation is to be provided as follows: Premises - 2% on straight line method Office Supplies - 12% on reducing balance method The following adjustments are to be considered for the period: Prepayment: Commission received - RM1,000 Accrual: Electricity & Telephone - RM 250 Required: (a) Prepare the Statement of Profit or Loss for the year ended 30 April 2021. (7 marks) (6 (6) Prepare the Statement of Financial Position as at 30 April 2021 marks)