At the end of the exam, you must show your written wort to the invigilator before you can and submit CINTO Question 1.133.mark! The following Trial Balance has been extracted from the courting records of Kate Osaka, a sole trader, as at 30 June 2021 Kate Osaka Trial Balance as at 30 June 2021 Debit Credit Capital as at 1 y 2020 57.530 Land at cost 850.000 Equipment Cost 73.000 Motor de tout 212.000 Accumulated Provision for praction for Euro 137 400 Accumulated Potion for depreciation for Motor vehicles 150.000 Sales Purchases 500 540 Returns inwards (Sales Return) 31.000 Returns Purchases Huma) Inventory (stock) at 1 July 2020 424 Carriage 63.000 Rani 129240 Administrative costs 98.631 Motor expenses 20340 Bod detes Wages and is 37300 Longform Loan 2500 interest expense 8.000 Provision (Allowance for Bad and Doubtfulder Accounts receivable (Debitors 74,700 Accounts payabia (Creditor) Cash Bank 150 000 Drawing 33 000 2014 2014 PLEASE TURN OVER INTO CU Additional information is available at 30 June 2021 1. Inventory took at 30 June 2001 as valued at 70.3 2. Administrative costs prepadnunted to 5.400 3 Wages of 30 000 were 4. Depreciation is to be provided for the financial year as follows: Equipment 10% using the reducing balance method b) Motor vehicle: 10% ning the straight line method The provision allowance for bad and doute debts is to be maintained Account Relvabile (Debitor) 6. On 30 June 2021, Interest income of 4,000 was received and transferred to the business bank account but was not recorded in the spective loger account 8752 500 5 31.000 06:20 Purchase Returns inwards Four) Returns outware Purchase Inventory cock as at 1 July 2020 inwards 3 of 9 Fative costs Motorexperten Badde Wiages and salaries Long-term Loan Interest expense Provision (Allowance for Bas and Double Accounts receivable Detitors) Accounts payabirtos Cash Bank Drawing 19.424 63.000 129.240 98.631 26,340 4.RO 37.500 450.000 5.400 74700 125.633 1865 150.000 33700 2.537.36 2037236 PLEASE TURN OVER DINTO City, Unity of London Additional information is available as at 30 June 2012 1. Inventory (sk) sa 30 June 2001 was 70.342 2. Administrative cont prepaid amounted 108.400 Wage of 30.000 were rund 4 Depreciation is to be provided for the financial years low # Equipment 10% using the reducing balance method 5) Motor vehicles 19 sing the right The provision (allowance for bad and doubtful det to be maintained Accounts Receivable (editor) On 30 June 2021. Interest income of 4000 was receved and transferred to business bank account but was not recorded in the edge account Required: a) Prepare the income Statement for the year anded 30 Jure 2021 118 115 | Prepare the Statement of Financial Position (stance Sheets 30 June 2021 Briefly describe the following terms Prime cost Product costs PLEASE TURN OVER INTO CITY, London At the end of the exam, you must show your written wort to the invigilator before you can and submit CINTO Question 1.133.mark! The following Trial Balance has been extracted from the courting records of Kate Osaka, a sole trader, as at 30 June 2021 Kate Osaka Trial Balance as at 30 June 2021 Debit Credit Capital as at 1 y 2020 57.530 Land at cost 850.000 Equipment Cost 73.000 Motor de tout 212.000 Accumulated Provision for praction for Euro 137 400 Accumulated Potion for depreciation for Motor vehicles 150.000 Sales Purchases 500 540 Returns inwards (Sales Return) 31.000 Returns Purchases Huma) Inventory (stock) at 1 July 2020 424 Carriage 63.000 Rani 129240 Administrative costs 98.631 Motor expenses 20340 Bod detes Wages and is 37300 Longform Loan 2500 interest expense 8.000 Provision (Allowance for Bad and Doubtfulder Accounts receivable (Debitors 74,700 Accounts payabia (Creditor) Cash Bank 150 000 Drawing 33 000 2014 2014 PLEASE TURN OVER INTO CU Additional information is available at 30 June 2021 1. Inventory took at 30 June 2001 as valued at 70.3 2. Administrative costs prepadnunted to 5.400 3 Wages of 30 000 were 4. Depreciation is to be provided for the financial year as follows: Equipment 10% using the reducing balance method b) Motor vehicle: 10% ning the straight line method The provision allowance for bad and doute debts is to be maintained Account Relvabile (Debitor) 6. On 30 June 2021, Interest income of 4,000 was received and transferred to the business bank account but was not recorded in the spective loger account 8752 500 5 31.000 06:20 Purchase Returns inwards Four) Returns outware Purchase Inventory cock as at 1 July 2020 inwards 3 of 9 Fative costs Motorexperten Badde Wiages and salaries Long-term Loan Interest expense Provision (Allowance for Bas and Double Accounts receivable Detitors) Accounts payabirtos Cash Bank Drawing 19.424 63.000 129.240 98.631 26,340 4.RO 37.500 450.000 5.400 74700 125.633 1865 150.000 33700 2.537.36 2037236 PLEASE TURN OVER DINTO City, Unity of London Additional information is available as at 30 June 2012 1. Inventory (sk) sa 30 June 2001 was 70.342 2. Administrative cont prepaid amounted 108.400 Wage of 30.000 were rund 4 Depreciation is to be provided for the financial years low # Equipment 10% using the reducing balance method 5) Motor vehicles 19 sing the right The provision (allowance for bad and doubtful det to be maintained Accounts Receivable (editor) On 30 June 2021. Interest income of 4000 was receved and transferred to business bank account but was not recorded in the edge account Required: a) Prepare the income Statement for the year anded 30 Jure 2021 118 115 | Prepare the Statement of Financial Position (stance Sheets 30 June 2021 Briefly describe the following terms Prime cost Product costs PLEASE TURN OVER INTO CITY, London