prepare financial statement and profit or loss

QUESTION Puan Mazuin started her business at Kajang Selangor since 2019. She hired a clerk account to help her in preparing her accounts. Below are the trial balances extracted from the book of Mazuin Enterprise owned by Puan Mazuin as at 30 June 2021: Particulars Debit Credit (RM) (RM) Land 600,000 Building 280,000 Plant and Machinery 56,000 Accumulated depreciation as at 1 July 2020: Building 24,000 Plant and Machinery 4,000 Inventory as at 1 July 2020 88.000 Account receivables and accounts payable 43 200 56,800 Bank 60,300 Cash 16,700 12% Long term loan 35.000 Purchases and sales 124,000 417,000 Returns 26,000 8.800 Import duty on purchases 46.000 Salaries expense 12,000 Utilities expense 9,000 Repairs 5,200 Carriages 7.800 Miscellaneous expense 4,800 Drawings 3,800 Dividend 6.600 Rent 5,400 Discounts 4,000 9,000 Capital 830.000 Allowance for doubtful debt as at 1 July 2020 1,000 1,392,200 1,392,200 Additional information: 1. Inventory as at 30 June 2021 is RM123,000 2. 55% of the carriages expenses is carriage inwards. 3. Half of the interest on loan has been paid and another half was still accrued at the end of accounting period. Nevertheless, the paid interest on loan has mistakenly included in the utilities expense. 4. There is RM2,800 of account receivables need to be written off due to economic downturn. In addition, the owner decides to provide for allowance for doubtful debt of RM1,800 for the year ended 30 June 2021. 5. Puan Mazuin withdraw RM1,400 cash and goods worth RM590 for her personal use and the transactions are still not recorded 6. RM6,000 of the salaries expense is still accrued for the year ended 30 June 2021. 7. RM700 of the utilities expense and RM1,000 of the rent expense was paid in advance. 8. RM2,000 of dividend is still not yet received for the year. 9. Puan Mazuin just discovered that she has mistakenly recorded repairs expense as RM5,200 instead of RM2,500 and this error is not yet amended in her account. 10. During the year, Puan Mazuin has transferred RM500 from her petty cash to her business bank account and this transaction has not been recorded in any of the books. 11. Current year depreciation to be provided as follows: i. ii. Building - 20% on cost Plant and Machinery - 10% on net book value