QUESTION 1 GreenThumb Electrical Bhd is actively involved in the manufacturing and selling of electrical appliances for the local market. The company is currently preparing its financial statements for the year ended 30 June 2021. The company's trial balance as at 30 June 2021 was as follow: RM Debit RM Credit Ordinary share capital 13,000,000 Retained profit as at 1 July 2020 18,200,000 Interim ordinary dividend 1,120,000 8% Debentures Revenue 1,200,000 25,160,000 Cost of sales Investment income 9,600,000 448,000 Selling & Distribution cost 1,600,000 Wages and salaries 2,754,000 Administrative expenses 2,800,000 Interest on debentures 48,000 Property, Plant and Equipment at cost: Freehold land 6,390,000 Building 3,420,000 Plant & Machinery 2,360,000 Accumulated depreciation as at 1 July 2020: Building 684,000 Plant & Machinery 544,000 Inventories 3,175,000 Bank and cash 17,500,000 Trade receivables and payables 2,860,000 2,011,000 Allowance for impairment of trade receivables 300,000 Tax paid 2,320,000 Long term investment 5,600,000 61,547,000 61,547,000 Additional information: 1. A sales item amounting to RM120,000 made on 20 June 2021 was not recorded in the books. The customer has made the payment for the goods, and the closing inventory had excluded this item accordingly.