Question 2 a) A company maintains its fixed assets at cost. Accumulated depreciation accounts, one for each types of asset, are in use. Motor vehicles are to be depreciated at the rate of 20% per annum using straight-line method while the office equipments at the rate of 15% per annum using reducing balance method. Depreciation is to be calculated on assets in existence at the end of each year, giving a full year's depreciation even though the asset was brought part of the way through the year. The following transactions in assets took place in the fixed assets accounts: 2019 1 January 1 August 1 June Bought motor vehicles RM80,500 and office equipments RM14,700. Bought office equipments RM6,400. Bought used van worth RM50,000. Bought office equipments costs of RM3,500. 2020 1 December The financial year end of the business is 31 December. Required: i. Show the fixed asset accounts and accumulated depreciation accounts for motor vehicles and office equipments. (5 marks) ii. Prepare a Statement of Financial Position (showing fixed assets section) as at 31 December 2019 and 2020. (5 marks) b) A business started trading on 1 January 2019. During the two years ended 31 December 2019 and 2020, the following debts were written off to the bad debts accounts on the dates stated below: 31 March 2019 30 September 2019 31 January 2020 31 May 2020 31 October 2020 Ahmad Enterprise Lingam Company Ah Moy Trading Cik Yah Sdn Bhd Pak Abu Enterprise RM340 RM510 RM120 RM220 RM240 On 31 December 2019 there had been a total of trade receivables remaining of RM87,100. It was decided to make a provision for doubtful debts at 3% of total net trade receivables. On 31 December 2020 there had been a total of receivables remaining of RM92,200. It was decided to make a provision for doubtful debts of RM3,000. Required: (Note: Kindly rounding up your figures to the nearest integer numbers) i. The Bad Debts Accounts and the Provision for Doubtful Debts Accounts for each of the two years. (5 marks) ii. The relevant extracts from the Statement of Financial Postitions as at 31 December 2019 and 2020. (5 marks) (Total: 20 Marks)