Reference no: EM133176821

The following trial balance has been extracted from the ledger of Azwin, a sole trader as at 31 May 2019, the end of her most recent financial year.

The following additional information as at 31 May 2019 is available:

1. Inventories as at the close of business were valued at RM25,900.
2. Depreciation for the year ended 31 May 2019 has yet to be provided as follows:
   • Property: 1% using straight line method.
   • Equipment:15% using reducing balance method.
3. Wages and salaries are accrued by RM140.
4. 'Other operating expenses' include certain expenses prepaid by RM500.Other expenses included under this heading are accrued by RM200.
5. The provision for doubtful debts is to be adjusted so that it is 0.5 percent of trade receivables as at 31 May 2019.
6. 'Purchases' include goods valued at RM1,040 that were withdrawn by Azwin for her own personal use.

Question 

1. Give a Statement of Profit or Loss for the year ended 31 May 2019.
2. Give a Statement of Financial Position (Balance Sheet) as at 31 May 2019.