Question 5 The following is the trial balance of Syarikat TooEasy at 30 June 2010. Debit RM Credit RM Capital Debtors and creditors 6,400 140,000 5,100 Bank Cash 850 1,500 Sales and purchases 65,000 Return inwards and outwards 93,100 1,850 Carriage inwards 1,300 250 Carriage outwards 285 Stock at 1 July 2009 6,800 Electricity and water 345 Wages and salaries 3,600 Advertisement 2,650 Insurance 800 Discount allowed and received 150 650 Bad debts 680 Provision for doubtful debts 450 Motor vehicles (at cost) 34,000 Provision for depreciation on motor vehicles 12,000 Fittings (at cost) 6,000 Provision for depreciation on fittings 1,200 Land and buildings 145,000 Commission received 360 Long term loan 20,000 Drawings 2,000 Rent received 1,000 276,660 276,660 The following information needs to be taken into account in the preparation of the final accounts: 1. Closing stock RM7,150 2. Commission received in advance amounted to RM60 3. Provision for doubtful debts is to made at 5% of debtors.4. Insurance was prepaid amounted to RM270 5. Rent amounted to RM200 has not been received. 6. Electricity bill amounting to RM130 is still owing 7. Depreciation rate for the fixed assets are as follows: . Motor vehicles - 20% reducing balance method investor . Fittings - 10% straight line method Required: Prepare an Income Statement for the year ending 30 June 2010 and a balance sheet as at that date. oids