A new business graduate with one subject of accounting prepared the financial statements below for Amir’s Delivery Service at the end of the first year of operations.

Additional analysis revealed the following:
1. Delivery fees of $19 375 (owed by clients) were unrecorded at 30 June.
2. Additional equipment of $6 875 purchased with a bank loan at the end of the month had not been recorded.
3. Office expenses included supplies on hand at 30 June costing $5750.
4. Wages of $3125 were payable at 30 June.
Required

(a) Prepare a corrected statement of financial performance for the year ended 30 June 2024.

(b) Prepare a corrected statement of financial position in narrative form as at 30 June 2024.

(c) Prepare a statement of changes in equity for the year ended 30 June 2024.

(d) Discuss the accounting assumptions that Amir has breached.

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Income Delivery fees Expenses Office rent expense Wages expense Office expenses Electricity expense Amir, drawings Depreciation expense vehicle - equipment Profit Assets Cash at bank Equipment Vehicle AMIR'S DELIVERY SERVICE Statement of financial performance for the year ended 30 June 2024 $ 45 000 107 500 40 500 16 875 28 000 8 250 $ 287 500 2_625 248 750 $ 38 750 AMIR'S DELIVERY SERVICE Statement of financial position as at 30 June 2024 $ 31 500 43 250 52 500 $ 127 250 Liabilities Accounts payable Equity Owner, capital $ 32 500 94 750 $ 127 250