Question $5$

The following trial balance was taken from the books of Lazy Trading at $31$ December $2023.$

$\backslash$table$[[\backslash$table$[[$Crazy Trading$],[$Trial Balance as at $31$ Decembe$]],2023,],[,202$RM$,$RM$],[$Capital$,,209,605],[$Sales$,,1,395,380],[$Purchases$,760,760,],[$Carriage outwards,$7,805,],[$Returns inwards,$34,300,],[$Carriage inwards,$5,880,],[$Returns outwards,,$26,040],[$Salaries and wages,$303,610,],[$Rent $(10$ months$),40,000,],[$Sundry expenses,$(4,600)/(4,600),],[$Travelling expenses,$3,000,],[$Drawings$,227,836,],[$Inventory as at $1$ January $2015,65,870,],[$Accounts receivable,$160,000,],[$Accounts payable,,$98,700],[$Cash and bank,$31,564,],[$Fixtures and fittings,$6,000,],[$Motor vehicle,$100,000,],[$Accumulated depreciation $-$ Fixtures and fittings,,$1,500],[$Motor vehicle,,$20,000],[,17\backslash$bar $(751\mathrm{.}225),(20,000)/(1\mathrm{.}752\mathrm{.}225)]]$

Additional information:

Inventory as at $31$ December $2023$ amounted to RM$79,030.$

Lazy Trading still owes its rental for November and December $2015$ which has not been recorded in the book.

The depreciation for fixtures and fittings is charged at $25\%$ using the straightline method.

The depreciation for motor vehicle is charged at $20\%$ using the reducing balance method.

Out of RM$4,600$ sundry expenses, RM$2,500$ should be travelling expenses. This has yet to be adjusted.

Required:

a$.$ Prepare the Statement of Comprehensive Income for the year ended $31$ December $2023.$

$(21$ marks$)$

b$.$ Prepare the Statement of Financial Position as at $31$ December $2023.$

$(19$ marks$)$