Question 5 (MAY 2021) The trial balance of Blue Moon Bhd at 31 March 2021 was as follows: RM000 RM000 6,562 4,032 495 210 2,000 750 875 205 Sales Purchases Inventory at 1 April 2020 Rent and rates Plant and machinery (at cost) Provision for depreciation on plant and machinery Fixtures and fittings (at cost) Provision for depreciation on fixtures and fittings Trade debtors (Receivables) Other office expenses Bad debts Cash at bank Trade creditors (Payables) Dividend paid Share capital Retained profits at 1 April 2020 Provision for doubtful debts 10% Debentures, repayable 2025 Salaries 300 485 7 116 245 5 100 1,038 5 700 1,080 9,863 9,863 The following additional information is available: a) Inventory at 31 March 2021 is valued at RM 530,000. b) Salaries relate 40% to production, 25% to distribution and 35% to administration c) The director's salary accrued RM 50,000. d) The annual rent and rates was paid up to 31 May 2020. It relates equally to distribution and administration. e) Interest on the debentures had not been paid at 31 March 2020. f) The provision for doubtful debts is to be made equal to 3% of debtors. g) Depreciation is to be provided on the plant and machinery at 15% on a straight line basis, and on the fixtures and fittings at 40% on a reducing balance basis. h) Corporation tax on the profits for the year is estimated at RM 60,000. Required: Prepare the following financial statements in a form suitable for publication to the shareholders of Blue Moon Berhad in accordance with applicable financial reporting standards in Malaysia: a) Statement of Profit or Loss for the year ended 31 March 2021. (13 marks) b) Statement of Changes in Equity for the year ended 31 March 2021. (2 marks) c) Statement of Financial Position as at 31 March 2021. (10 marks) (Total: 25 marks)