e-commerce Grammarly Apps Pearson Sign In Question 1(a): (5 marks) Rose Enterprise is a business providing consultation services to its customers. The following information is gathered from the books of Rose Enterprise for the month ended 31 March 2021: Information RM Sales revenue (70% on credit) 16,000 Advertising expense (paid by cash) 1,000 Salaries expense (half of the amount not yet paid) 2,400 Rental expense on building (not yet paid) 1,200 Collection of cash from customers (for services rendered in February 2021) 750 Office equipment purchased on credit on 20 March 2021 300 Received cash payment from a customer for services to be performed on 400 April 2021. Maintenance expense on building (not yet paid) 1,050 Required: Prepare the Statement of Profit or Loss for Rose Enterprise for the month ended 31: March 2021 assuming Rose Enterprise uses the accrual basis accounting and reports expenses by nature, 15 marks) DU WileyPLUS e-commerce Grammarly Apps Pearson Sign In BR Question 1(b): (10 marks) The following Statement of Financial Position for Mawar Bhd as at 31 December 2020 was not prepared correctly. Mawar Bhd RM Statement of Financial Position as at 31 December 2020 Assets RM Liabilities and Owners' Equity Cash 55,000 Building (net) Accounts payable 65,000 Accounts receivable Dividend receivable 20,000 Long-term borrowing Share capital 200,000 Equipment (net) Retained earnings 145.000 Unearned revenue Total liabilities and owners Total assets 485,000 equity 325,000 75,000 125,000 85,000 25.000 635,000 Required: Prepare the corrected Statement of Financial Position for Mawar Bhd as at 31 December 2020, according to the presentation requirements of MFRS 101 (in vertical format) (10 marks)