The following trial balance has been extracted from the ledger of Putra Enterprise. Putra Enterprise Trial Balance as at 31 March 2019 Accounts Debit (RM) Credit (RM) 50,000 450,000 985 Capital Purchases and Sales Sales Return and Purchase Return Staff salary General Expenses Stationeries Carriage inwards Carriage outwards Promotions Rent expense Rates and Assessment Insurance Repairs and maintenance Utilities Bad Debts Discount Received and Allowed Drawings Cash in Hand Bank Overdraft Accounts Receivable Trade Payables Inventories as at 1st April 2018 Furniture and Fittings Accumulated Depreciation - Furniture & Fittings Motor Vehicles Accumulated Depreciation - Motor Vehicles Allowance for Doubtful Debts Total 290,000 1,800 45,400 20,000 2,200 1,500 2,800 2,400 5,600 1,600 7,460 1,200 1,400 384 244 4,000 5,500 346 22,300 35,900 22,537 59,500 19,500 3,400 47,400 5,240 980 555,788 555,788 Additional information: i. ii. iii. iv. v. Inventories as at 31st March 2019 is valued at RM48,000. Accrued utilities for the amount of RM3,000. Maintenance were not yet paid amounting to RM2,000. Fire insurance amounting to RM1200 was taken on 1st January 2019 for the period of 12 months. Additional debts totaling RM6,000 is considered as bad debts. Allowance for doubtful debt is to be adjusted to 4% of net trade receivables. Owner took goods for own usage amounting to RM4,050. Depreciation has not been provided during the year. Depreciation is to be charged as follows: Furniture and Fitings 25% on reducing balance method Motor Vehicles 20% straight line method vi. vii. viii. Required: (a) Prepare journal entries for the year-end adjustments. (b) Prepare a Statement of Profit or Loss and Other Comprehensive Income for the year ended 31st March 2019. (c) Prepare a statement of Financial Position as at 31st March 2019. (20 marks)