Question 1 Mr.Roger, a store owner, extracted the following trial balance from his books at the close of business on 31 December 2019. Debit Credit RM RM Sales 850,000 Purchases 700,000 Sales returns 5,000 Purchases returns 6,000 Opening inventory 1 January 2019 100,000 Allowance for doubtful debts 800 Salaries and wages 42,000 Rates 6,000 Telephone 1,600 Shop fittings at cost 170,000 Van at cost 38,000 Accumulated depreciation of van 3.800 Accounts receivable 12,000 Accounts payable 15,000 Bad debts 1200 Capital 220,000 Bank balance 9,800 Drawings 10,000 1,095,600 1,095,600 Additional information: Closing inventory on 31 December 2019 amounted RM120,000 Accrued wages RM3,000. Rates prepaid RM200 The allowances for doubtful debts to be increased to 10% of accounts receivable. Telephone account outstanding RM200 Depreciate shop fittings at 10% on cost and van at 10% using reducing balance method. You are required to prepare: (a) The statement of comprehensive income for the year ended December 2019 (b) Financial Position as at 31 December 2019. (Total 25 marks) ACC 1023 (DIBA FEB, 2021