QUESTION 1|25 marks The following is the pre-adjusted trial balance of Tasha Trading as at 31 December 2020: Debit (RM) Credit (RM) 100,848 500,000 150,000 Accumulated depreciation - office equipment Accumulated depreciation - building Office equipment Building Bank Cash 3,000,000 560.250 55,715 69,100 Debtors and creditors Provision for doubtful debts Stock 22,772 865 15,448 200,000 410,000 8% long-term loan Capital Drawings Returns 2.000 3,660 3,880 5.140 Discounts Rentals 4,992 30,000 26,000 1.935 Bad debts Purchases and sales 678,345 3,432,984 4,000 4,352 Insurance Commissions Interest on long-term loan Carriage outwards Salaries 15,000 4,100 120,000 4,710,693 4.710,693 Page 2 of 6 AFMBI/4 Special Semester, 2020/202/ Additional information for the year-end adjustments for the year ended 31 December 2020: 1 Prepaid rental expense was RM2,000. 2. Rental income of RM6,000 was still accrued. 3. Accrued interest on long-term loan was RM1,000. 4. Commissions of RM500 was not yet earned. 5. Stock as at 31 December 2020 was RM28,888 Provision for doubtful debts is to be made at 2% of outstanding debtors. Depreciation rate for and useful life of the non-current assets are as follows: Office equipment - 20% on reducing balance method. Building - 30 years on straight line method. 6. 7 Required: (a) Prepare a statement of profit or loss of Tasha Trading for the year ended 31 December 2020. [14 marks) (b) Prepare a statement of financial position of Tasha Trading as at 31 December 2020. . [11 marks)