Trial Balance as at 31 August 2021 (before adjustments) Trial Balance as at 31 August 2021 (before adjustments) Debit RM'000 Credit RM'000 Freehold land 27,600 Building 26,000 Accumulated depreciation (1/9/2020) 13,200 Equipment 5,800 Accumulated depreciation (1/9/2020) 1,800 Administrative expenses 32,650 Selling and distribution 5,380 Agency fee income Rental income 5,500 2,750 Interest on loan 450 Ordinary share capital 20,000 Retained profits (1/9/2020) 12,100 Cost of sales 14,160 Sales 65,000 Return inwards 1,000 Inventory (at 31/8/2021) 4,600 Dividends paid 8,000 Tax paid 500 Trade receivables 4,900 Allowance for doubtful debts (1/9/2020) 230 Cash at bank 1,170 12% Bank loan 5,000 Trade payables 6.630 132,210 132,210 ====== To consider the following year-end adjustments: 1. Included in the rent revenue was rent for September 2021 to the sum of RM250,000. 2. Included in the selling and distribution expenses was insurance of RM15,000, which was taken to cover the shipment of goods purchased. 3. Included in the cost of goods sold was carriage outwards of RM45,000. 4. Interest on the bank loan for the 3 months of June, July and August 2021 was still owing. 5. On 1 January 2021, land and building were revalued to RM30 million and RM13.6 million respectively. The remaining useful life of the building at that date was 8 years. 6. The entity adopts the revaluation model for its property, plant and equipment. Depreciation