1. Madam Rose started the Golden Roses Enterprise on January 2020. Below is the information provided by Madam Roses. Please help Madam Rose to prepare the Income Statement and Balance Sheets for Golden Roses Enterprise. *(Not include Current Month Profit)

ACCOUNT	RM
Account payable	2,000
Account receivables	8,000
Accrued expenses	1,200
Accumulated depreciation - Equipment	46,000
Cash	5,000
Common Stock	15,000
Cost of good sold	120,000
Depreciation Expenses	5,000
Equipment	48,000
Inventory	3,000
Long term debt	50,000
Marketable securities	12,000
Prepaid expenses	5,000
Retained earnings*	(11,950)
Sales	120,000
Selling Expenses	15,000
Tax Expenses	1,250

(10 Marks)

2. Mr ZZ is the owner of Diamond Cookies Sdn. Bhd. He provided you with the information for current year Income Statements and Balance Sheets for 2 years. He hired you to prepare the indirect statement for cashflow for him.

INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Revenue	80,000
Expenses	60,000
Operating profit	20,000
Income taxes	10,000
Profit after tax	10,000

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020

Accounts	2020	2019
Account receivables	8,000	7,000
Accumulated depreciation	7,500	5,000
Cash	3,000	5,000
Equipment	10,000	20,000
Inventory	8,000	20,000
Long Term Investment	80,000	-
Other current assets	5,500	2,500
Total Assets	122,000	59,500
Account payable	19,500	23,000
Long Term Bond	20,000	10,000
Long Term Loan	50,000	-
Other Interest Payable	4,000	2,000
Treasury Stock	15,000	23,000
Common Stock	5,000	3,000
Dividend paid	5,000	2,000
Retained earnings	3,500	(3,500)
Total Liabilities and Equity	122,000	59,500