Question 1 (A) Encik Jamal operates a small-scale mini market. His son keeps the business records and helps in the administration of the mini market. The following account balances as at 1 March 2021 were extracted from the business's books: RM RM Shop building 500,000 Accumulated depreciation: Motor vehicles 88,000 Motor vehicles 16,000 Furniture 25,000 Furniture 2,500 Customers owed him 23,500 Owing to the suppliers 49,900 Maju Bank 42,500 Jaya Bank (overdraft) 28,000 Prepaid insurance 3,000 Rent not paid for February 2021 3,600 Inventories 43,000 Loan from bank 150,000 Fixed deposit with bank 120,000 Capital ? Cash in hand 5,000 Apart from the above records, Encik Jamal has informed you on the following transactions during the six months ended 31 August 2021: 1 2. 3 Rent paid by cheque amounted to RM10,800 for the quarter year ended April 2021. Another cheque which amounted to RM21,600 was issued for six months' rent to 31 October 2021. Monthly insurance premium of RM3,000 for the shop amounting to RM12,000 was paid by cheque for the four months until July 2021. The insurance premium for August 2021 will only be paid in September 2021. Interest on fixed deposit at 2.5% per annum for six months ended 31 August 2021 to be received on the maturity date. Depreciation to be charged for the six months ended 31 August 2021 for the following assets: Motor vehicles with a cost of RM88,000 and residual value of RM8,000. The useful life of these motor vehicles was estimated to be 5 years. 4 Furniture to be depreciated at 10% per annum on cost. Required: (a) Prepare the statement of affairs for Encik Jamal as at 1 March 2021. (8 marks) (b) Show the detailed workings for items (1) to (4) above. (7 marks)