Quesfion 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Adeftional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the yecr ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& Fillings: 10% using straight line method b. Molor vehicles: 15% using reducing balance method. 3. Electricity bils was paid in advanced by RM500. Meanwhle RM400 commission cre not received yel. 4. One of the customers Amif Sport Enterprise was declare bankupt and unable to pay the debt amount RM700 5. The provision for doublful debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are accrued by RM140. 2 7. 'Purchases' include goods valued at RM1,040 that were withatraw by Azwin for her own personal use. Required: a) Prepare Income Statement lor the year ended 31 December 2021 b) Prepare Statement of Financial Position as at 31 December 2021 (15 marks) (10 marks) Quesfion 2 The following balances were extracted from the books of VE Enterprise on 31 December 2021. Adeftional information: 1. Inventory as at 31 December 202118,180 2. Depreciation for the yecr ended 31 December 2021 has yet to be provided as follows: a. Fixtures \& Fillings: 10% using straight line method b. Molor vehicles: 15% using reducing balance method. 3. Electricity bils was paid in advanced by RM500. Meanwhle RM400 commission cre not received yel. 4. One of the customers Amif Sport Enterprise was declare bankupt and unable to pay the debt amount RM700 5. The provision for doublful debts is to be adjusted to 5% based on remaining account receivables 6. Salaries are accrued by RM140. 2 7. 'Purchases' include goods valued at RM1,040 that were withatraw by Azwin for her own personal use. Required: a) Prepare Income Statement lor the year ended 31 December 2021 b) Prepare Statement of Financial Position as at 31 December 2021 (15 marks) (10 marks)