Do fully according to the marks

QUESTION 2: (25 Marks! A. You are the junior accountant of ABD & CO. The Management of EmpireGo Bhd has asked your firm to prepare their financial statements for the year ended 31 June 2020 The company's Trial Balance as at that date is as follows Trial Balance of EmpireGo Bhd 25 * 31 June 2020 RM OOO RM000 Ordinary share capital 12.000 Retained earnings 9,345 Property.plant and equipment at cost 58.463 Property, plant and equipment Accumulated Depreciation at 1 July 2019 27,974 Inventory as at 1 July 2019 8.456 Trade receivables 6690 Trade payables Accruals 387 7% bank loan repayable 2025 16,000 Bank Sales 50.875 Purchases 35 245 Return inwards 678 C2124 pachelor of Accountingtonil Februar 2011 CONVIDENTIAL 3 653 Return outwards Administration expenses Distribution expenses Bank interest Final dividend for the year ended 31 Jan 2019 Interest dividend for the year ended 31 Jun 2020 4152 6.654 560 700 600 120,382 Additional information: The sales figure in the trial balance does not include the credit sales for June 2020 of RM 3,564,000 The inventories at the chose of business on 31 sont 2020 cost RM9,786,000 Goods for resale costing RM127.000 purchased on two months' credit in June 2020 were returned to the supplier on 30 June 2020. No entries have been made in the accounts in the trial balance 1. The company paid RM48.000 insurance costs in February 2020, which covered the period from 1 March 2020 to 28 February 2021. This was included in administrative expenses in the trial balance. Interest on the bank loan for the last six months of the year has not been included in the accounts in the trial balance The corporation tax charpe for the year has been calculated as RM 1.254,000 Required: From the Information given, draft the statement of profit or less and other comprehensive income for the year ended 31 June 2020 and the statement of financial position as at that date [20 Marks) 3. Explain what is meant by entity's financial position and performance, S Mars QUESTION 2:125 Marks A You are the junior accountant of ABD & Co. The Management of EmpireGo Bhd has asked your firm to prepare their financial statements for the year ended 31 June 2020 The company's Trial Balance as at that date is as follows. Trial Balance of EmpireGo Bhd as at 31 June 2020 RM'000 RM'000 12,000 9,345 58,463 27,974 8,456 6.690 3.348 Ordinary share capital Retained earnings Property plant and equipment at cost Property.plant and equipment Accumulated Depreciation at 1 July 2019 Inventory as at 1 July 2019 Trade receivables Trade payables Accruals 7% bank loan repayable 2025 Bank Sales Purchases Return inwards BAC 21.24 Bachelor of Accountino 387 16.000 1,184 50.875 35,245 678 Februar 2011 3 CONVIDENTAL Return outwards Administration expenses Distribution expenses Bank interest Final dividend for the year ended 31 Jun 2019 Interest dividend for the year ended 31 Jun 2020 4,152 6,654 560 700 600 120.382 120,382 Additional information: The sales figure in the trial balance does not include the credit sales for June 2020 of RM 3,564,000 The inventories at the close of business an 31 June 2020 cost RM 9,786,000 Goods for resale costing RM127,000 purchased on two months' credit in June 2020 were returned to the supplier on 30 June 2020. No entries have been made in the accounts in the trial balance The company paid RM48,000 insurance costs in February 2020, which covered the period from 1 March 2020 to 28 February 2021. This was included in administrative expenses in the trial balance. Interest on the bank loan for the last six months of the year has not been included in the accounts in the trial balance The corporation tax charge for the year has been calculated as RM 1,254,000 iv V. Required: From the information given, draft the statement of profit or loss and other comprehensive income for the year ended 31 June 2020 and the statement of financial position as at that date. 20 Marks! 8. Explain what is meant by entity's financial position and performance, IS Marks)