QUESTION 3 Trial balance as at 31 December 2012 RM RM Building Inventory 50,000 17,000 Returns 400 Bank 1,980 Rental 3,200 Salary 6,000 Drawings 360 Insurance 1,200 Capital 58,370 Assessment rate 3,000 Account receivable and Accounts payable 9,250 7,000 Sales and Purchases 56,000 75,000 Allowance for Doubtful Debt 80 Stationeries paid 420 Advertising 2,000 145.630 145.630 1. Closing inventory is RM15,000 2. Bad debt is RM50. Allowance for doubtful debts is 2% on accounts receivable. 3. Accrued assessment rate is RM600. 4. Rental received each month is RM300 per month Prepare: a) Statement of Comprehensive Income for the year ending 31 December 2012 b) Statement of Financial Position as at 31 December 2012 (40 marks)