Here are what you have found to make adjustments on the existing trial balance: 1. Shop rental was RM2,000 per month and payment was made starting from Jan 2021. 2. One of the customers was declared bankrupt and unable to settle the debts. The customer still owed RM4,000. 3. Interest on loan from Maybank for the year ended 31 December 2021 was still outstanding. The agreement was signed on 31 July 2021. 4. Salary for Marina, the supervisor, amounting to RM3,000 was still unpaid. 5. Allowance for doubtful debts is to be provided at 5% on net account receivables. 6. An annual depreciation is to be provided as follows: Cabinet 10% on cost Furniture and fittings 10% on carrying value 7. A delivery van worth RM70,000 was purchased on January 2021. The residual value was RM10,000. Its useful life is for 5 years. 8. The boss, which is the owner, Datuk Jalil, withdrew cash of RM200 and took a camera worth RM5,000 for her daughter's birthday, 9. Stock as at 31 December 2021 was RM32,000. Required: a) Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2021. b) Prepare the Statement of Financial Position as at 31 December 2021. ASSIGNMENT QUESTION You are the new accounts clerk at Excellent Target Sdn Bhd, which sells cameras and accessories. Your boss wants you to prepare the financial statements for the year ending 31 December 2021. You had been given the trial balance as shown below: trial balance. Here are what you have found to make adjustments on the existing trial balance: Credit RM Debit RM 40.000 4,000 1. Shop rental was RM2,000 per month and payment was made starting from Jan 2021 6,000 2. One of the customers was declared bankrupt and unable to settle the debts. The customer still owed RM4,000 7,000 5,600 4,400 160,000 3. Interest on loan from Maybank for the year ended 31 December 2021 was still outstanding. The agreement was signed on 31 July 2021. 340,000 5.200 4. Salary for Marina, the supervisor, amounting to RM3,000 was still unpaid. Inventory at 1 Jan 2021 Returns inwards Returns outwards Carriage inwards Duty on purchases Carriage outwards band Purchases cata Sales pindo Discount allowed Die Discount received DISCOUI Insurance on purchases madan Return on investment Cho SHOP Shop rental Salaries and wages Petrol and mileage expenses end Water and electricity Allowance for doubtful debts Accumulated depreciation: Cabinet 6,400 5,400 5. Allowance for doubtful debts is to be provided at 5% on net account receivables. 3,000 6. An annual depreciation is to be provided as follows: 28.000 33,000 2,600 4,600 Cabinet Furniture and fittings 10% on cost 10% on carrying value 1,000 Furniture and fittings 15,000 7,600 7. A delivery van worth RM70,000 was purchased on January 2021. The residual value was RM10,000. Its useful life is for 5 years. 8. The boss, which is the owner, Datuk Jalil, withdrew cash of RM200 and took a camera worth RM5,000 for her daughter's birthday 70,000 50,000 40,000 30,000 20,000 9. Stock as at 31 December 2021 was RM32,000. Required: 41,800 Delivery van (at cost) Cabinet (at cost) Furniture and fittings (at cost) Investment Accounts receivable Accounts payable Telephone and internet charges Maintenance expenses Bad debts bad debts Cash in hand Loan from Maybank (4% per annum) Drawings Capital 10,000 8,000 1,000 68,400 a) Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2021. b) Prepare the Statement of Financial Position as at 31 December 2021. Cash at bank 3,000 100,000 600 80,000 600,800 600,800 Before you can prepare the financial statements from the trial balance given above, your boss wants you to review all the documents regarding the accounts listed in the