Question 1 Triangle Trading Trial Balance as at 31 December 2019 DR CR 160,000 Capital Account Receivable Sales Cash Wages and salaries General Expenses Premises Accumulated Depreciation - Premises Account Payable Drawings Rent Machinery Accumulated Depreciation - Machinery Allowance for doubtful debt Return inwards Stationery Purchases Return outwards Carriage inwards Discount received Opening Inventory 36,987 29,000 3,456 2,099 110,000 6,700 3,400 75,000 1,500 500 59,000 450 15,000 343,092 125,000 10,000 35,000 5,000 5,692 600 1,800 343,092 Additional information: a) Wages and salaries accrued as at 31 December 2019 amounting RM500. b) Total rent paid inclusive of January 2020 rent of RM300 c) The company decided to have allowance for doubtful debt at 18% on remaining balance of account receivables. d) Closing stock value at RM9,000 e) Bad debt recovered RM700 received in cash. f) Premises and machinery are depreciated at 10% on reducing balance basis. Required: a) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019 b) Prepare Statement of Financial Position as at 31 December 2019