Question 3

The following balances were extracted from the books of Wardah Enterprise. as at 31 December 2023.

Wardah Enterprise

Trial Balances as at 31 December 2023

Particulars	Debit (RM)	Credit (RM)
Purchases	77,750
Sales		138,050
Carriage inwards	2,300
Account receivables	24,500
Account payable		16,540
Cash	1 ,850
Bank	14,300
Inventory as at 1 January 2023	10,730
Machinery	43,000
Motor vehicle	35,000
Accumulated depreciationMachinery		3,225
Accumulated depreciationMotor Vehicle		4,300
10% Fixed deposit at Maybank Bhd	5,000
Capital		63,000
Drawings	4,050
Interest on fixed deposit		500
15% loan from RHB bank		34,000
Rental	9,200
	Postage and stationery	7,100
	Advertising	9,425
	Salaries and wages	15,100
	Bad debts	700
	Allowance for doubtful debs		110
	Discount allowed and discount received	670	950
	TOTAL	260, 675	260, 675

Additional Information:

Inventory as at 31 December 2023 was RM9,500 ii. RM700 of the advertising was prepaid.

There was an outstanding rent of RM200.

Required:

a) Statement of Profit or Loss for the year ended 31 December 2023.

(18 marks)

b) Statement of Financial Position as at 31 December 2023.

(12 marks)

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