Question 1 The following is the trial balance of Auto Wheels Sdn Bhd as at 31 December 2020: Credit (RM) Debit (RM) 70,000 24,000 8,000 30,000 14.800 240,000 64,000 30,000 29,000 65.000 230,200 193,600 1,200 Land Motor vehicles - Accumulated depreciation on motor vehicles Fixtures and fittings Accumulated depreciation on fixtures and fittings Plant and machinery - Accumulated depreciation on plant and machinery Salary and wages Inventories as at 1 January 2020 Purchases Capital Sales Rent received Insurance Motor expenses Bad debts Allowance for doubtful debts Loan from Bank of Tokyo Account Receivables Account Payables Cash at bank Interest on loan Drawings Office supplies Freight charges Water and electricity Carriage outwards Carriage inwards Discount allowed Discount received Commission received 9,000 6,000 6,600 800 60,000 18.000 7.600 39,600 3,000 5,400 3,600 3.000 1.200 4,000 1.000 1,400 7,200 2.400 589,800 589,800 Additional information: (1) (2) Inventories as at 31 December 2020 amounted to RM19,400. Provide for depreciation as follows: Plant and Machinery 10% on straight line method. Motor vehicles 10% on reducing balance method. Fixtures and fittings 5% on straight line method. . Page 3 of 2 (3) (4) Rent not yet received RM1,000. Allowance for doubtful debts has to be provided; 6% of Account Receivables. Required: (b) Prepare the Statement of Financial Position as at 31 December 2020. Total: 25 Marks [10 marks)