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Prepare the balance sheet/SOFP as at 31 December 2016. Habib Sdn. Bhd. is a merchandising company which has business operations in Cyberjaya. The following balances

Prepare the balance sheet/SOFP as at 31 December 2016.

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Habib Sdn. Bhd. is a merchandising company which has business operations in Cyberjaya. The following balances have been extracted from the books as at 31 December 2016. 1. Closing inventories as at 31 December 2016 was valued at RM50,000. 2. Half of the interest on loan has not been paid for the year. 3. Depreciation was to be provided: Motor vehicles 10% on straight line method. Furniture 10% on reducing balance method. 4. Rental includes RM2,000 paid in advance

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