Question 4 Maggie, a sole trader, has given you the following balances for the year ended 31 December 2021. Trial balance as at 31st Dec 2021 RM RM 6,400 3,330 4,700 7,050 90.190 300,400 430.200 Carriage outwards Carriage inwards Return Inwards Return Outwards Inventory as at 1 January 2021 Purchases Sales Salaries and wages Rent Insurance Motor expenses Office expenses Water and electricity General expenses 54,860 28.000 1.640 1.620 Motor vehicles 4.300 1,890 1.560 1560 1200 130,000 45,800 32,000 50,280 Office equipment Fixtures and fittings Fisture Trade receivables Trade payables Cash at bank Drawings Capital 32,420 16,600 34.100 338,000 807,670 807,670 Additional information: : 1. Inventory as at 31 December 2021 was RM110,500, 2. Depreciation of motor vehicle is based on 20% per annum on cost. Office equipment is depreciated at 15% per annum using the reducing balance method. Fixtures and fittings are depreciated at 10% per annum on cost. 3. Accrued wages were RM3,500 and prepaid general expenses were RM880. Bad debt expenses of RM1,580 are to be written off. Allowance for bad debts of 5% on trade receivables is to be made. 4. This question paper consists of 4 questions on 5 printed pages. KBEA1013 HOSPITALITY ACCOUNTING Required: (a) a Prepare the Statement of Profit and Loss for the year ended 31 December 2021. (13 marks) (b) ( Prepare the Statement of Financial Position as at 31 December 2021. (12 marks) [Total: 25 marks)