Credit RM 300,000 150,000 160,000 18,000 50,000 12,000 442,500 15,400 10,400 The following is the trial balance of Gagah Sdn. Bhd, as at 30 April 2021: Trial balance as at 30 April 2021 Debit RM Ordinary shares 7% preference shares 6% debentures (repayable year 2030) General reserve Retained earnings as at 1 May 2020 Discounts received Sales Commission received Returns outwards Discounts allowed 3,300 Wages and salaries 46,000 Carriage inwards 3,500 Returns inwards 2,500 Carriage outwards 1,000 Purchases 291,400 Utilities expenses 3,100 Insurance 10,000 Audit fees 15,000 Bad debts 3,300 General expenses 3,000 Machinery at cost 120,000 Motor vehicles at cost 86,000 Land at cost 290,000 Accumulated depreciation - Machinery Accumulated depreciation - Motor vehicles Trade payables Debenture interest 4,000 Trade receivables 101,000 Directors' remuneration 36,000 Interim preference share dividend 6,000 Cash in hand 101,040 Cash at bank 130,000 Inventories as at 1 May 2020 12,000 Allowance for doubtful debts 1,268,140 24,000 16,340 68,000 1,500 1,268,140 Additional information: pen with Avast Se 1. Inventories as at 30 April 2021 have a cost of RM32,000 and a net realisable value of RM28,000. 2. 3. 4. Allowance for doubtful debts is to be adjusted to 2% of net trade receivables. Unpaid utilities amounted to RM500 as at the year-end on 30 April 2021. Depreciation policy of the company is as follows: Machinery 10% per annum on cost; Motor vehicles : 10% per annum on net book value. This question paper consists of 4 questions on 8 printed pages. 5 ABFA1173 PRINCIPLES OF ACCOUNTING Question 2 (Continued) 5. The directors have made the following provisions for the year ended 30 April 2021: (i) A final dividend of RM0.10 per share is to be paid to ordinary shareholders. (ii) Preference dividend to be paid in full, (iii) Transferred RM4,000 to the general reserve account Required: (a) Prepare the statement of profit or loss of Gagah Sdn. Bhd. for the year ended 30 April 2021. (12 marks) (b) Prepare the statement of changes in equity of Gagah Sdn. Bhd, for the year ended 30 April 2021. (3 marks) (c) Prepare the statement of financial position of Gagah Sdn. Bhd. as at 30 April 2021.(10 marks) [Total: 25 marks