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The following is the Trial Balance obtained from Round Enterprise as at 31 ^st. December 2009.

	Debit (RM).	Credit (RM).
Capital.		22,490
Cash at bank	16,000
Cash in hand	900
Inventory (as at 1st January 2009)	7,320
Account receivables.	8,200
Account payables		6,300
Fixture and fittings	4,800
Vehicles	32,000
Purchases	36,200
Sales		71,800
Returns	500	300
Commission received		1 ,660
Carriage outwards	460
Discount received		620
Carriage inwards	790
Provision for doubtful debt		800
Accumulated depreciation on vehicles.		3,200

107,170

107,170

Additional information:

1 . Inventory as at 31 ^st December 2009 was valued at RM 13,440.

2. Accrued revenue and expenses during the year were as follows:
   1. Commission received RM200 ii. Carriage inwards RM440
3. Prepaid revenue and expenses during the year were as follows:
   1. Discount received RM 330

ii. Carriage outwards RM 150

4. Vehicles are depreciated at 10% per annum.
5. Provision for doubtful debts is 5% of accounts receivables.

From the above information, you are required to:

1. Prepare Statements of Profit or Loss (Income Statement) for Round Enterprise for the year ended 31 ^st December 2009.
2. Prepare Statements of Financial Position (Balance Sheet) as at that date. Thanks appreciate your help.