QUESTION 3 The following balances were extracted from the books of DUDU Enterprise as at 30 June 2021. ACCOUNTS RM RM Capital 900,000 45,500 63,700 780,000 55,000 180,000 24,000 Account receivables Account payables Land and buildings Machineries Motor vehicle Accumulated depreciation on Machineries Accumulated depreciation on Motor vehicles Allowance for doubtful debts Inventories as at 1 July 2020 Purchases Sales 87,840 7,300 35,000 200,000 450,000 5% investment in unit trust 230,000 4% loan from CEBE Bank 60,000 150,000 7,000 50,000 24,000 38,000 3% mortgage loan Repair and maintenance Salaries and wages Rental received Commission received Carriage inwards Carriage outwards Return inwards Return outwards Duty on purchases Discount allowed 6,000 5,500 9,900 4,200 3,600 8,400 Discount received 7,200 Cash at bank 170,000 Cash in hand 24,040 Interest on loan from CEBE Bank 1,800 Interest on mortgage loan 4,500 1,816,240 1,816,240 Additional information: 1. Inventory as of 30 June 2021 was RM47,000. 2. Additional motor vehicle worth RM10,000 was purchased during the year. Full payment was made by cheque. However, this transaction was not recorded in any books. 3. Depreciation charged for the year ended 30 June 2021 were as follows: a. Machineries - 10% on the cost, scrap value RM7,000, yearly basis. b. Motor vehicle - 20% on the carrying amount, yearly basis. 4. During the year ended 30 June 2021, one of the accounts receivables owing RM3,000 died. DUDU Enterprise decided to write off the amount as bad debts. It is DUDU Enterprise's policies to provide annual allowance for doubtful debts at the rate of 3% on net account receivables. 5. The following adjustment are to be made for the financial year ended 30 June 2021: Accruals RM Prepayments RM Commission received 500 Salaries and wages 3,000 Repair and maintenance 400 Rental received 2,500 6.3 months interest on loan from CEBE Bank was not yet paid. 7. The investment in the unit trust was made on 1 January 2021. Dividend on investment was not yet received Required: a. Prepare Statement of Profit or Loss for year ended 30 June 2021. (20 marks)