PART B: STRUCTURED QUESTIONS PLEASE WRITE YOUR ANSWER IN THE ANSWER SHEET GIVEN IN UUM ONLINE LEARNING. QUESTION 1 (30 MARKS) Musrah Consultations was set up in 2019 with the main business of providing business consultation services in Kedah. The unadjusted accounts' balances for the financial ended 31 December 2021 are as follow: ACCOUNTS RM Cash 120,000 Accounts Receivable 12,000 Supplies 25,000 Vehicle 51,000 Accumulated Depreciation -Vehicle 10,000 Land 30,000 Prepaid Insurance 3,600 Accounts Payable 3,500 Unearned Revenue 20,500 Note Payable-3 years 44.000 Capital 75,000 Withdrawal 1,500 Service Revenue 169,100 Utilities Expense 4,000 Salaries expense 75,000 Additional information: 1. Utilities expense amounted to RM650 for the month of December 2021 has not been recorded and only will be paid in January 2022. 2. Unearned service revenue on 31 December 2021 is RM4,500. 3. Supplies amounting to RM17,800, have been consumed for the year ended 31 December 2021. 4. Depreciation of vehicle is based on the straight-line method. It has an estimated useful life of 5 years with a scrap value of RM1,000. 5. Service revenue earned but unbilled is not yet recorded amounting to RM7,500. 6. Prepaid insurance represented a one-year premiums purchased on 1 July 2021. 7. 8. Salaries expense for the month of December 2021 amounted to RM6,800 has not been recorded. The salaries are expected to be paid early next year. The financial year end for Musrah Consultations is on 31 December every year. EBM2304 REQUIRED: 9 ED221 (a) Prepare the relevant adjusting journal entries on 31 December 2021. Omit the explanation. (10 Marks) (b) Prepare the adjusted trial balance as at 31 December 2021. 9 of 13 (12 Marks) (c) Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2021. (8 Marks) =