EMr. Khan is a sole trader and you are given business:

21154 4H13El) B dohter3i5r84r'.clouclfront.net Jan. Apr. 2020 Assignment 2 BA} 06 Introductory Accounting Answer ALL questions. Question 1 Mr. Khan is a sole trader and you are given the following information relating to his business: Trial balance as at 30 September 2020 Dr Cr RM RM Inventory as at 1 October 2019 19,134 Wages & salaries 106,483 Sales 462,970 Carriage inwards 2,229 Rent 18,465 Gas 20,005 Purchases 226,855 Accounts receivable 74,400 Account payable 53,749 Machinery: at cost 232,140 Computers: at cost 97,080 Machinery: accumulated depreciation at 1 October 2019 77,580 Computers: accumulated depreciation at 1 October 2019 54,600 Drawings 34,102 Bank 1,807 Bad debt expense 13,408 Allowance for doubtful debts at 1 October 2019 2,276 Capital 191,319 844,301 844,301 Additional information: 1. The inventory was counted at 30 September 2020 and was valued at RM19,491 2. Depreciation is to be applied at the following rates: Machinery: (reducing balance) 15% Computers: (straight-line) 25% 3. The amount shown for rent on the trial balance includes a payment of RM10,500, which represents twelves months' rent to 31 May 2021. 4. Gas charges incurred for which no invoices have yet been received amount to a total of RM4,786. 5. The allowance for doubtful debts is to be set at 4 per cent of accounts receivable. Required: (a) Prepare a Statement of Prot or Loss for the year ending 30 September 2020. (13 marks) (b) Prepare a Statement of Financial Position as at 30 September 2020. (12 marks) All relevant workings must be shown. [Total: 25 Marks]