QUESTION 1 The following balances were taken from the book of Omicronian Berhad as at 30 June 2021: DEBIT (RM) CREDIT (RM) Cash at bank Trade Receivable and Payable Interim dividend- Preference shares Directors emolument Audit fees Other administrative expenses Selling expenses Advertising 202,200 46,000 63,700 8,000 11,000 2,500 24,300 8,000 12,000 Motor expenses 25,000 Tax paid 35,000 Retained earnings - 1 July 2020 85,000 7% Debentures 46,000 Land 200,000 Plant and equipment 100,000 Accumulated depreciation - Plant and equipment 50,000 Motor Vehicle 130,000 Accumulated depreciation - Motor Vehicle 30,000 Gross profit 238,000 Inventory 30 June 2021 31,000 270,000 Ordinary shares @RM1.00 100,000 10% Preference shares 270,000 100,000 Patent Investment in quoted shares Rental received General reserve Allowance for doubtful debts 25,000 50,000 14,000 10,000 2,300 Dividends from investment - quoted shares 1,000 910,000 910,000