QUESTIONI Following trial balance relates to Anson Export & Distribution Enterprise (AEDE) which was extracted at the close of business on 30 May 2022 Dr (RM) Cr (RM) Accumulated depreciation-buildings-1 June 2021 780,000 Accumulated depreciation-motor vehicles-1 June 2021 240,000 Accumulated depreciation-plant & equipment-1 June 20211 635,000 Administrative expenses 423,510 Allowance for doubtful debts 24,360 Bank 365,740 Buildings at cost at 1 June 2021 1,658.200 Discount allowed discount received Carriage inwards Carriage outwards Return inwards/return outwards Salaries and wages Insurance expenses Advertising expenses Maintenance expens Bad debts 25,200 35.200 84,300 65.350 34,600 89.620 360,160 35,600 22,500 47,500 12.500 Inventory at 1 June 2021 312,450 Capital 125,432 Long term loan 200,000 Motor vehicles at cost at 1 June 2021 420,000 Drawings 65,000 Plant & equipment at cost at 1 June 2021 1.241,200 Purchases 2,458,720 Revenue 5,432,788 Accounts payables 510.240 Accounts receivables 440,610 8,073,140 8,073,140 Additional information at 30 May 2022: (i) Stock at cost RM346,800 (i) Prepaid insurance expenses of RM12,920 (ii) Salaries and wages were accrued at RM1,450 (iv) Interest on term loan is accrued at 8% of the loan amount (v) Anson took goods worth of RM5,500 for his own use and it was not recorded in the book. (vi) Carriage inwards of RM3,000 was wrongly taken up as carriage outwards. Page 2 of 6 (vii) During the review of accounts receivable, AEDE decided to write off one of the debts amounting to RM1,500. Allowance for doubtful debts to be maintained at 5% of closing balance of accounts receivable as at 30 May 2022 (vi) Depreciation charge is provided as follows: Buildings-2% using straight-line method Plant and equipment -10% using straight-line method Motor vehicle-20% using reducing balance method (All amounts are to be rounded up to the nearest Ring Required Prepare the following for the financial period ended 30 May 2022: (a) Statement of profit or loss (b) Statement of financial position (14 marks) (11 marks)) [Total 25 marks]