ASSIGNMENT $2$

The following are the accounts' balances of Billion Sdn$.$ Bhd$.$ at the end of December $2023.$

Trial balance of Billion Sdn$.$ Bhd$.$ as at $31$ December $2023$

Sales

Purchases

Premises $($cost$)$

Accumulated depreciation at $1$ January $2023\_$Premises

Plant $($cost$)$

Accumulated depreciation at $1$ January $2023\_$Plant

Wages and salaries

Rent expense

Opening inventory

Capital

Drawings

Carriage inwards

Account receivables and Account payables

Bad debts written off

Other revenue

Cash at bank

Bank loan

Closing inventory is RM$12,500.$

Additional information as at $31$ December $2023$:

i$.$ Wages and salaries accrued amount to RM$700.$

ii$.$ Rent prepaid amounts to RM$300.$

iii. Bank loan interest of $10$ per cent per annum is outstanding.

iv$.$ Provision for doubtful debt for account receivables of $2$ per cent is to be made.

v$.$ Depreciation is to be charged at $2$ per cent of the cost on the premises and $10$ per

cent of the cost on the plant.

You are required to prepare the following for Billion Sdn$.$ Bhd$.$:

a$)$ The journals for adjusting entries of additional information.

b$)$ Statement of Comprehensive Income for the year ended $31$ December $2023.$

c$)$ Statement of Financial Position as at $31$ December $2023.$