_16%20Apr%2022.pdf FedEx Corporation |... CI MALAYSIA FREIGHT.. / 10 50% + There are four (4) calculation and reporting questions. Indicate your anawere clearly In the answer file. Each correct answer carries 20 marks. Question 1 The following are the unadjusted ledger balances of Mendoza Limited for the year ended 30 June 2022: Ordinary Share Capital 450,000 Sales 420,000 Trade payables 26,820 Purchases returns 540 Purchases 84,000 Sales returns 363 Carriage outwards 372 Carriage inwards 330 Rental expense 75,000 Insurance expense 28,200 Advertising expense 38.460 Office Salaries expense 30.000 Cash at Bank 17,535 Opening Inventory 8, 100 Trade Receivables 30,000 Plant and Equipment at cost 450.000 Accumulated Depreciation (1" July 2021: Plant and Equipment) 45,000 Motor Vehicles at cost 180.000 Additional information needed for year end adjustments, are as follows: a. There is an amount of $3.525 included in the insurance expense, which is meant for July 2022 D. The closing inventory as of 31 December 2022 amounts to $3.100 The company's management decided to write off $1.400 as irrecoverable debts for the financial period There is an amount of $15 000 rental expenses outstanding as of 30 June 2022 The company provides depreciation of 10% depreciation on the cost of plant and equipment The company depreciales motor vehicles at 20%% using the straight line method Required: a Prepare an Income Statement for the year ended 30 June 2022 (10 marks] b. Prepare a Statement of Financial Position as at that date (10 marks] [Total: 20 marks] Frage 2 - 10