Question 1 The following is a list of balance obtained from PLC Sdn Bhd as at 30 June 2021. (RM) Telephone expenses 606 Sundry expenses 1,090 Stationery 1,020 Sales 175.000 Salaries 9,070 Return Outwards 2.060 Return Inwards 1.040 Rent received 7,020 Purchases 123,000 Provisions for Doubtful debts 250 Opening stock 7.650 Motor vehicles 605,000 (Accumulated depreciation) (161,000) Land and building 820.000 Interest received 3.650 Interest on loan 9050 Insurance Import duties 1,160 Furniture and fittings 38.000 (Accumulated depreciation) (5.200) Investment 122.000 Drawings 8.800 Discount allowed 475 Debtors 25,000 Creditors 112,000 Cash 6.700 Bank 199,000 Carriage Outwards 5,050 Carriage Inwards 3.090 Capital 1,438,551 Bank loan 86,000 Bad debts 850 3.080 Additional information: Stock as at 30 June 2021 were valued at RM15,500. 2. Provisions for doubtful debts were adjusted to 2% on the net debtors. 3. Accrued income and expenses during the year were as follows: i) Insurance ii) Salaries iii) Rent received RM400 RM3,000 RM500 4. Prepaid expenses and income during the year were as follows: i) Interest on loan RM450 ii) Interest received RM120 s. Depreciation are to be provided as follows: i) Motor vehicle at 20% per annum. ii) Furniture and fittings at 15% on reducing balance method. REQUIRED: a) Income Statement for the year ended 30 June 2021. (15 marks) b) Statement of Financial Position as at the date. (15 marks) (30 Marks)