Principles of Accounting Electricity and water Sales Purchases Stationeries INSTRUCTION This part consist of ONE (1) question. Answer ALL question in the space provided. (Question 1) Sarahani is the owner of SH Trading, the business dealing with wholesaler of electrical appliances. Below is the trial balance extracted from the books of SH Trading as at 31 December 2021. Particulars Capital as at 1 January 2021 Debit (RM) Credit (RM) 96,548 Insurance Accumulated Depreciation as at 1 January 2021: Furniture and Fittings Plant and Machinery Additional information: Drawings 13,350 Inventories as at 1 January 2021 12,870 Accounts Receivable 8,400 Accounts Payable Retums inwards 772 Retums outwards Furniture and Fillings 18,720 Plant and Machinery 70,000 Cash at bank 11,380 Discount received Discount allowed 195 Wages 3,460 Rental 7,950 7,170 604 405 510 63.228 225 3,600 101,081 1,872 7,000 214,660 214,660 i. Allowance for doubtful debts of 5% was to be provided on the net accounts receivable. ii. The closing inventories were valued at RM6,500. iii. Prepayment of insurance premium and wage were RM150 and RM300 respectively. iv. Depreciation for the year is to be provided as follows: v. Furniture and Fittings at 10%, straight line method, yearly basis vi. Plant and Machinery at 10%, reducing balance method, yearly basis. vii. The owner took cash at bank amounting RM400 for her personal use. viii. The accruals of electricity and rental were RM100 and RM200 respectively. Required: (a) The Statement of Profit or Loss for the year ended 31 December 2021. (17 marks) (b) The Statement of Financial Position as al 31 December 2021. (8 marks) Note: Calculate to the nearest RM INSTRUCTION 25 marks