2. Alan started a salon on 1 January 2013. The following is the trial balance of his business as at 31 December 2013. Dr Cr $ 9,000 Capital 1 January 2013 Drawings Motor car (cost $1,800) Cash in hand Cost of new hair dryer Equipment (cost $1,000) Freehold premises Advertising Cash at bank Motor car expenses Rates Telephone Revenue from hairdressing Sundry expenses 3,760 1,320 40 120 600 6,000 230 5,400 480 140 110 10,400 1.200 19.400 19.400 Additional Information: 0) Rates prepai31 December 2013 $30. (11) One-fifth of motor car expenses including depreciation for the year is to be regarded as private use. (iii) Provide for cleaning costs $50. (iv) Depreciate all equipment on hand at 31 December 2013 by 10% of cost. (v) Motor car is to be depreciated by 20% on reduced balance. REQUIRED () Prepare the following final accounts for Alan: (1) Profit & loss account for the year ended 31 December 2013. (10 marks) (il) Balance sheet as at 31 December 2013. (10 marks) (6) State and explain why there is some common items are not found under Current Assets. (5 marks) (Total 25 maris)