(RM) 3.000 4.900 QUESTION The the below showed the account balances of us Enterpe which is why by Puan Particular Debit Credit RM Purchases and sales 180.000 220.000 Discount slowed and discount received 2.550 100 Retumwards and returns outwarda 9,000 13.500 Carige ouds 1050 Cumage was 800 Inventory of January 2014 Advertisement Dividend roved 1.500 Elenchy 1,500 Commissions 2.100 2.000 Insurance 3.700 11.750 2.700 20.500 Allowance for double et 300 Accumulated depreciation 1.500 25.500 Accounts receivable and accounts payable 121,000 134.000 3.000 Cash 750 Ilank 10.200 Capital 187.200 Mat TARA CONFIDENTIAL Motor ulice Drawing CONFIDENTIAL ACIDEC 2015 ACCO Loan from Bank Simpanan Malaya 165.000 Machinery 5.000 Motor vehicles 75.000 Investments 0.000 Freehold 240.000 738.600 738.600 Additional information 1 Inventory as at 31 December 2014 is RM10,000 2 Rent received in for the period from January 2014 to March 2015 3 RM300 electricity was paid in advance, while rentale MTSO mwing the end of the year 4. Puan Liza had withdrawn RM1,500 cheque and RM3.500 goes for her family se 5 Allowance for double debts is be increased by RM500 & Additional bad debt to be written off was RM200 7. Insurance amounting RM300 sutstanding at the end of the accounting period loan of 6% per annum wall standing at the end of the year The lon trom Bank Simpanan Malaya was obtained on May 2014. Interest on Current year depreciation to be charged is as follow Machinery RMBOO Motor vehicles RM0.900 Required Prepare a statement of profit or loss for the year ended 31 December 2014 (16) Prepare a statement of financial position as at 31 December 2014 (14 mars Notes Answers are to be stated to the nearest RU Tot 30 m The trial balance below showed the accounts' balances of Liza Enterprise which is wholly owned by Puan Liza as at 31 December 2014. Particulars Debit Credit (RM) (RM) Purchases and sales 180,000 220,000 Discount allowed and discount received 2.550 400 Returns inwards and returns outwards 9.000 13.500 Carriage outwards 1,050 Carriage inwards 600 Inventory at 1 January 2014 36,000 Advertisement 4.900 Dividend received 1,500 Electricity 1,500 Commissions 2.100 7,000 Insurance 3,700 Rentals 11,750 2.700 Salaries 20,500 Allowance for doubtful debt 300 Accumulated depreciation: Machinery 1,500 Motor vehicle 25,500 Accounts receivable and accounts payable 121.000 134,000 Drawings 3,000 Cash 750 Bank 10.200 Capital 167,200 Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL AC/DEC 2015/ACC 406 165,000 Loan from Bank Simpanan Malaya Machinery Motor vehicles Investments Freehold premises 6,000 75,000 9,000 240.000 738,600 738,600 Additional information: 1. 2. 3. Inventory as at 31 December 2014 is RM105,000. Rent received is for the period from 1 January 2014 to March 2015. RM300 electricity was paid in advance, while rental expenses RM750 was owing at the end of the year. Puan Liza had withdrawn RM1,500 cheque and RM3,500 goods for her family use. Allowance for doubtful debts is to be increased by RM500. 4. 5. 6. Additional bad debt to be written off was RM200. 7. 8. Insurance amounting RM300 was still outstanding at the end of the accounting period. The loan from Bank Simpanan Malaya was obtained on 1 May 2014. Interest on loan of 5% per annum was still outstanding at the end of the year. Current year depreciation to be charged is as follow; Machinery RM600 Motor vehicles RM9,900 9. Required: a. Prepare a statement of profit or loss for the year ended 31 December 2014. (16 marks) b. Prepare a statement of financial position as at 31 December 2014. (14 marks) Note: Answers are to be stated to the nearest RM. (Total: 30 marks)