This assignment carries 20% from your continuous assessment. This assignment applies some of the accounting and reporting concept, by preparing the adjusting entries ano reconciled the trial balance QUESTION 1 Puan Adila is sole proprietor of Adila Enterprise which operates its business in Bandar Puteri, Puchong, Selangor. The following is the Trial Balance of the said business as at 30 June 2022 . \begin{tabular}{|l|r|r|} \hline Interest on Fixed Deposit & & 250 \\ \hline Bad Debts expense & 874 & \\ \hline Provision for Doubtful Debts & & 835 \\ \hline Carriage outwards & 1,773 & \\ \hline Furnishing (cost) & 15,300 & \\ \hline Motor Vehicles (cost) & 40,000 & \\ \hline Accumulated depreciation for Furnishing & & 2,295 \\ \hline Accumulated depreciation for Motor Vehicles & & 14,400 \\ \hline & 319334 & 319334 \\ \hline \end{tabular} REQUIRED: a) Adjusted Trial Balance. b) Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2022. c) Statement of Financial Position as at 30 June 2022. Shopeek is a company that produce and selling books. However, this company does not used fully computerised system to produce the accounting book. As at 31 December 2019 , the trial balance totals were: Debit RM1,796,100 and Credit RM1,852,817. Nevertheless, he proceeded to prepare draft financial statements, inserting the difference as a balancing figure in the statement of financial position. The differences are put under suspense account. He then opened a suspense account for the difference and began to check through the accounting records to find the difference. He found the following errors and omissions: 1. RM8,980 - the total of the sales returns book for September 2019, had been credited to the purchases returns account. 2. RM9,600 paid for an item of plant purchased on 1 April 2019 had been debited to plant repairs account. The company depreciates its plant at 20% per annum on a straightline basis, with proportional depreciation in the year of purchase. 3. The cash discount totals for the month of September 2019 had not been posted to the general ledger accounts. The figures were: Discount allowed RM836 Discount received RM919. For discounts allowed, it was not anticipated that these customers would take advantage of these cash discounts when the invoices were first issued. 4. RM580 rent prepaid at 31 December 2018 had not been brought down as an opening balance. 5. The balance of RM38,260 on the utility expense account had been omitted from the trial balance. 6. A vehicle held as a non-current asset had been sold during the year for RM4,800. The proceeds of sale were entered in the cash book but had been credited to the sales account in the general ledger. The original cost of the vehicle is RM12,000, and the accumulated depreciation to date RM8,000, were included in the vehicles account and the accumulated depreciation account. The company depreciates vehicles at 25% per annum on a straight-line basis with proportionate depreciation in the year of purchase but none in the year of sale. REQUIRED: a) Based on above transactions, explain what kind of errors involved in every transaction. b) Open a suspense account for the difference between the trial balance totals. Prepare the journal entries necessary to correct the errors and eliminate the balance on the suspense account. (20 Marks) QUESTION 3 a) 'Agreement of Trial Balance is not the conclusive proof of the accuracy of account'. Comment. b) If the totals of two amount columns of trial balance do not agree, in which account the difference amount is written? c) If the total of the debit column of a trial balance is more than the total of its credit column in which of the two amounts of columns of the trial balance, will you write the difference in amount? d) If the total of the Purchases Book is posted to Purchases Account wrongly, will the trial balance still agree? Comment and give example. e) When the accounting error or errors are rectified, what happens to the suspense account