\begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ Account } & Dr (S) & Cr(S) \\ \hline Office equipment, at cost & 200,700 & \\ \hline Motor vehicles, at cost & 362,800 & \\ \hline Drawings: Joni & 51,248 & \\ \hline Capital: Joni & & 200,000 \\ \hline 5% Bank loan, repayable in 2031 & & 200,000 \\ \hline Cash at bank & 260,500 & \\ \hline Inventory as at 1 July 2021 & 101,600 & \\ \hline Sales & & 1,541,633 \\ \hline Rent income & & 38,500 \\ \hline Carriage inwards & 24,100 & \\ \hline Utilities expense & 77,300 & \\ \hline Trade receivables & 295,400 & \\ \hline Advertising expense & 86,000 & \\ \hline Carriage outwards & 29,200 & \\ \hline Purchases & 612,300 & \\ \hline Returns & 40,070 & 32,130 \\ \hline Discount received & & 27,650 \\ \hline Trade payables & & 233,700 \\ \hline Discount allowed & & \\ \hline Accumulated depreciation as at 1 July 2021: & \\ \hline - Office equipment & & \\ \hline - Motor vehicles & & \\ \hline Insurance expense & & \\ \hline Salaries expense & & \\ \hline \end{tabular} The following additional information was made available before the year-end closing: 1. Insurance expense in the trial balance consisted of insurance paid for April 2022 to August 2022. 2. Commission income amounting to $7,200 had been mistakenly recorded as rent income. 3. In April 2022, Joni received some damaged inventory of $12,100 from its customers. These had been sold on credit. The business had not recorded the return of these goods by the customers as at 30 June 2022 . 4. Joni received $9,400 for goods to be delivered in July 2022. This had been included in the amount of sales for the year. 5. A payment of $105,000 for a credit supplier had not been recorded in the books of Joni. A 20% discount had been received from the credit supplier. This transaction has not been recorded. 6. The amount of annual depreciation on fixed assets were as follows: 7. Interest expense in the trial balance relates to the bank loan which was taken up on I April 2022. The outstanding interest for the year has not been accounted for as at year-end. 8. During the year, Joni withdrew $5,000 by cheque for personal use. This had been omitted from the financial records of Joni as at 30 June 2022 . 9. Joni has rented out her shop to Lee Co. at a monthly rental of \$3,600 on 1 January 2022. The rental has yet to be received by Joni. 10. Inventory as at 30 June 2022 amounted to $187,400 after a physical stock count. Required: (a) Prepare the necessary general journal entries to record transactions (1) to (9). Narrations are not required. (Hint: For some transactions, you will need to create new accounts which are not shown on the trial balance.) (40 marks) (b) Prepare the following financial statements for Joni: (i) Statement of Comprehensive Income for the year ended 30 June 2022 (ii) Statement of Financial Position as at 30 June 2022 (60 marks) \begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ Account } & Dr (S) & Cr(S) \\ \hline Office equipment, at cost & 200,700 & \\ \hline Motor vehicles, at cost & 362,800 & \\ \hline Drawings: Joni & 51,248 & \\ \hline Capital: Joni & & 200,000 \\ \hline 5% Bank loan, repayable in 2031 & & 200,000 \\ \hline Cash at bank & 260,500 & \\ \hline Inventory as at 1 July 2021 & 101,600 & \\ \hline Sales & & 1,541,633 \\ \hline Rent income & & 38,500 \\ \hline Carriage inwards & 24,100 & \\ \hline Utilities expense & 77,300 & \\ \hline Trade receivables & 295,400 & \\ \hline Advertising expense & 86,000 & \\ \hline Carriage outwards & 29,200 & \\ \hline Purchases & 612,300 & \\ \hline Returns & 40,070 & 32,130 \\ \hline Discount received & & 27,650 \\ \hline Trade payables & & 233,700 \\ \hline Discount allowed & & \\ \hline Accumulated depreciation as at 1 July 2021: & \\ \hline - Office equipment & & \\ \hline - Motor vehicles & & \\ \hline Insurance expense & & \\ \hline Salaries expense & & \\ \hline \end{tabular} The following additional information was made available before the year-end closing: 1. Insurance expense in the trial balance consisted of insurance paid for April 2022 to August 2022. 2. Commission income amounting to $7,200 had been mistakenly recorded as rent income. 3. In April 2022, Joni received some damaged inventory of $12,100 from its customers. These had been sold on credit. The business had not recorded the return of these goods by the customers as at 30 June 2022 . 4. Joni received $9,400 for goods to be delivered in July 2022. This had been included in the amount of sales for the year. 5. A payment of $105,000 for a credit supplier had not been recorded in the books of Joni. A 20% discount had been received from the credit supplier. This transaction has not been recorded. 6. The amount of annual depreciation on fixed assets were as follows: 7. Interest expense in the trial balance relates to the bank loan which was taken up on I April 2022. The outstanding interest for the year has not been accounted for as at year-end. 8. During the year, Joni withdrew $5,000 by cheque for personal use. This had been omitted from the financial records of Joni as at 30 June 2022 . 9. Joni has rented out her shop to Lee Co. at a monthly rental of \$3,600 on 1 January 2022. The rental has yet to be received by Joni. 10. Inventory as at 30 June 2022 amounted to $187,400 after a physical stock count. Required: (a) Prepare the necessary general journal entries to record transactions (1) to (9). Narrations are not required. (Hint: For some transactions, you will need to create new accounts which are not shown on the trial balance.) (40 marks) (b) Prepare the following financial statements for Joni: (i) Statement of Comprehensive Income for the year ended 30 June 2022 (ii) Statement of Financial Position as at 30 June 2022 (60 marks)