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Problems 1. Mokara Enterprise is a sundry shop business, owned by Encik Aglan. It had the following trial balance as at 31 December 20x2. Debit (RM) Credit (RM) 200,000 22,000 10,000 6,600 4,000 1,000 1,800 9,000 1,200 3,000 560 1,000 Capital Accounts payable Accounts receivable Cash at bank Cash in hand Inventory, 1 January 20X2 Electricity expense Rent income Telephone expense Interest expense Discount allowed Discount received Building Drawings Loan from Bank Islam (10% p.a.) Insurance expense Salaries Delivery van (at cost) Carriage inwards Canllage outwards Sales Purchases Purchases returns Sales returns Allowance for doubtful debt Accumulated depreciation -- Delivery van 241.600 1,600 60,000 1,900 24,000 30,000 360 1,380 80,000 52,000 13,000 9,000 2,000 3,000 390,000 390,000 The following information has to be considered: (a) Depreciation expense for the delivery van is to be charged at 20% per year on straight line basis. (b) Rent income for the amount of RM3,800 was still owed. (c) Interest on loan from Bank Islam for half a year was not yet paid. (d) Insurance expense of RM100 was paid in advance. (e) The owner withdrew cash of RM800 and took goods worth RM1,200 for personal use. The unexpired portion of electricity expense was RM500. (9) The inventory as at 31 December 20X2 amounted to RM15,000. Required: 0 Prepare the statement of profit or loss for the year ended 31 December 20x2. (1) Prepare the statement of financial position as at 31 December 20x2

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