Question 1. calculate total assets 2. compute the net motor vehicles 3. calculate net account receivables 4. calculate net assets 5. calculate total expenses 6. calculate total current assets 7. compute the net purchase 8. calculate the net sales 9. calculate the net fixtures and fittings 10. calculate the net profit 11. calculate the gross profit 12. calculate total liabilities 13. calculate total assets

The following Trial Balance were extracted from Beauty Spa Enterprise. The closing inventory as at 31 Dec 2020 is RM7,900. You are required to prepare financial statements for the year ending 31 December 2020 and answer the following questions. Credit (RM) 75,496 11.130 5.250 10,000 Beauty Spa Enterprise Trial Balance as at 31 December 2020 Debit (RM) Capital Motor vehicle 26,500 Fixtures and fittings 18,750 Provision for depreciation: Motor vehicle Fixtures and fittings Account receivables and account payables 12,500 Inventory 1 Jan 2020 6,700 Purchases 72,320 Sales Returns 700 Salary and wages 12.200 Rental expenses 10,400 Carriage outwards 3,280 Carriage inwards 8,180 Drawings 500 Cash 37,466 Bank 16,380 Discounts 1,900 Total 227,776 123,600 1,800 500 227.776 Additional information: a) Accrued rental is RM100. ) Prepaid salary is RM800 :) Both motor vehicles and fixtures and fittings need to be depreciated at 14% per annum on cost. d) The allowance for doubtful debts for the year is set at 3% of account receivables