Question 2 The following is the trial balance of Alpha Sdn. Bhd. as at 31 October 2021: Trial balance as at 31 October 2021: Debit RM Credit RM 537,300 12.000 6,000 8,000 Sales Purchases Discount allowed and Discount received Commission paid and Commission received Return inwards and Return outwards Carriage inwards Carriage outwards Wages Salaries Repairs and maintenance Water and electricity Insurance Motor expenses Bad debts General expenses Sundry expenses Interest Land and premises Machinery Motor vehicles Accumulated depreciation - Machinery Accumulated depreciation - Motor vehicles Trade payables Trade receivables Cash in hand Cash at bank Share capital Bank overdraft Long term borrowing Inventories as at 1 November 2020 Allowance for doubtful debts 285,000 8,000 5,000 7,500 300 3,000 25,000 36,000 8,000 2,000 3,000 1,000 5,000 2.000 1,000 5,000 120.000 100,000 350,000 30,000 126,000 68,000 30,000 2,000 90,000 300,000 10,000 110,000 120,000 1,500 1,208,800 1.208.800 2. 3. 4. Question 2 (Continued) Additional Information: 1. Depreciation charges are to be provided as follows: (i) Machinery at 10% per annum on cost. Motor vehicles at 20% per annum on net book value. Inventories as at 31 October 2021 were valued at RM85,000. Wages are paid to the warehouse employees. Received water and electricity bills amounting to RM500 for October 2021, but no payment has been made. Paid insurance premium of RM250 for the year ended 30 November 2021. Salaries accrued amounted to RM1,000 as at the year-end on 30 November 2021. 7. Allowance for doubtful debts is to be reduced by RM200. Required: (a) Prepare the statement of profit or loss of Alpha Sdn. Bhd. for the year ended 31 October 2021 (13 marks) (b) Prepare the statement of financial position of Alpha Sdn. Bhd, as at 31 October 2021. (12 marks) [Total: 25 marks 5. 6