b. Identify the appropriate book of prime entry for the following transactions: Transactions Book of prime enti i |Owner brought in a personal motor vehicle amounting to |RM20,000 into the business as capital. issued invoice to Ameenah amounted to RM2,000 for goods Id. ii_ [Purchased goods worth RM300 from Akeem and paid by cheque iv issued credit note to Seenah for defective goods returned worth IRM200 V_ [Received invoice from Aqil Sdn Bhd for goods purchased lamounted to RM1,500 Vi_[Paid electricity bill amounted to RM1,200 by cash vil |Retumed defective goods to Ameer Enterprise worth RM350_ vili [Received cheque amounted to RM300 from Abbu (accounts Ireceivable) as a settlement of the amount owed by him. ix [Owner took some goods worth RM100 from the business for his family use. X [Paid amount owed to Saleem Trading (account payable) lamounted to RM2,900 by CashQUESTION 3 Encik Sudin runs a fishing gear named LuKail Enterprise. The following balances were extracted from the books of LuKail Enterprise as at 31 December 2019. LuKail Enterprise Trial Balance as at 31 December 2019 LIST OF ACCOUNTS: Debit (RM) | Credit (RM) 6.5% CIMBB loan 100,000 ‘Accounts receivable and Accounts payable 55,600 46,890 ‘Accumulated depreciation as at 4 January 2019: Motor vehicle 5,160 Equipment 4,300 ‘Advertising 3,000 Allowances for doubtful debt as at 1 January 2019 2,500 Capital 167,616 Carriage inwards 8,180 Carriage outwards 3,000 Cash at bank 36,083 ‘Commission paid 2,430 Drawing a 1,510 Discount allowed and discount received 3,400 5,140 ‘General expenses 4,330 Insurance on purchases 7,500 Water and electricity 2,708 Inventory as at 1 January 2019 27,000 Long term investment 35,000 Dividend received on investment 2,675 Maintenance expense 2,800 Premise (at cost) 165,000 Motor vehicle (at cost) 25,800 Equipment (at cost) 23,000 Purchases and Sales 177,760 | _ 305,950 Return inwards and retum outwards 950) 1,360 Rental received 26,000 | Salaries 83,330 | Stationery expenses 800 Utilities 4,410 TOTAL 667,591 | 667,591Additional information: 1. Closing inventory as at 31 December 2019 was RM34,500. 2. The premise is not depreciated. Yearly depreciation for other non-current assets is to be provided as follows: @ Motor vehicle: 20% per annum using straight line method © Equipment: 15% per annum using reducing balance method 3. Accruals and Prepayments for the period were as follows: ‘Accruals RM | Prepayment RM Salaries 7,000 | Rental Received 2,000 Dividend received on investment | 500 | Utilities 110 Advertising 300 | Insurance on purchases 750 4. Encik Sudin has taken goods worth RM2,760 for his family use and this has not been recorded in the books of LuKail Enterprise. 5. One of the accounts receivable of LuKail Enterprise worth RM1,500 was declared bankrupt. LuKail Enterprise decided to write off the debt under the allowance method, 6. Allowance for doubtful debts is to be adjusted at 5% of the net accounts receivable balance. 7, Loan from CIMBB was taken on 1 July 2019, No interest has been paid on this loan at the end of the accounting period. 8. It was found that payment made to accounts payable of RM5,000 by cheque was. not recorded yet in the books. Required: a Prepare a Statement of Profit or Loss for the year ended 31 December 2019. (20 marks) Prepare a Statement of Financial Position as at 31 December 2019. (13 marks) Note: Use vertical format presentation. (Total: 33 marks)