Additional information: i. Inventory at 31 August 2020 is valued at RM41, 500. ii. The directors proposed a dividend of RM0.10 on the ordinary shares capital. The dividend on preference shares has yet to be paid.

iii. Assessment of RM500 and directors remuneration of RM2,000 are to be accrued. Insurance prepaid is RM400. iv. After examining the receivables, an amount of RM1,000 is to be written off as irrecoverable and an allowance for doubtful debt of 3% is to be provided on the remaining receivables. v. Depreciation: Equipment 10% on cost; Motor vehicles 15% on reducing balance. vi. Transfer to General Reserve RM1, 000. vii. Corporate tax is RM2, 000.

Required to prepare Statement of Financial Position as at 31 August 2020. (8 marks)

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Please show your answer in Excel format. Thanks

The Trial Balance of Fortune Berhad at 31 August 2020 is given as follows: DR CR RM RM Ordinary shares capital 55,000 8% Preference shares 20,000 Inventory at 1 Sept, 2019 45,000 10% Loan notes 30,000 General reserve 10,000 Accumulated profits 5,000 Loan notes interest 1,500 Equipment at cost 45,000 Accumulated depreciation - equipment 9,000 Motor vehicles at cost 42,000 Accumulated depreciation - motor vehicles 11,000 Bank 4,500 Cash in hand 250 Purchases/Sales 75,000 130,000 Bad debts 370 Returns 1,200 2,600 Carriage inwards 850 Wages & salaries 11,500 Carriage outwards Rent, assessment and insurance 6,800 Discounts 1,350 750 Directors' remuneration 4,500 Audit fees 1,500 Provision for doubtful debts 350 Receivables/Payables 52,000 11,000 289,200 289,200 380