can somebody please do D and E only

A ,B and c answers are provided to help you out with D and E please to thise only or i will give you tumbs down

these are the answers for A, b and c to help you find D and E i guess

John Phelps has run a small business for many years and has never kept adequate accounting records. However, a need to obtain a loan from the Bank of Make It Flow, for the expansion of his business has necessitated the preparation of final accounts. As such, he has contracted a medium size accounting firm, WAD & Associates to assist him in preparing a full set of accounting records. You were recently employed to WAD & Associates and have been assigned the task to prepare the final accounts for John Phelps. You were able to ascertain the following information for the year ended December 31, 2020: 1. John Phelps" bank transactions for the year January 1 through December 31. 2020 were as follows: S Receipts Trade receivables 272,500 4,500 Debit card Bank Account $ Payments 430,100 Trade payables 40,000 Electricity Rates and rent Loan principal Drawings Computer equipment Overdraft interest Salaries & wages Accounting fee 470,100 23,600 25,000 1.250 150,000 750 26,000 7,500 311,100 2. The bank account had a favourable balance on December 31, 2020 of $47.900 before considering Note 3(e) and Note 6 below. 3. During the year: a. Discounts allowed by trade payables amounted to $1.350 and allowed to trade receivables amounted $1.840. b. The financial year goods returned by trade receivables amounted to $1,600 and goods returned to trade payables amounted to 56,900. c. The financial year a trade debt of $1,200 owed by Lottie Graham was off-set against the $2.000 owing to the same Lottie Graham a trade creditor. d. A customer, Janet Hutton bought goods using a debit card. She returned goods amounting to $700 and was repaid from the Debit Card taking before applying the commission (see more No. 7). e. John Phelps puts a further $135.000 into the bank account of the business to shore up working capital. This is not yet reflected in the bank balance. 4. The closing trade receivables include 5750 in respect of a bad debt that should be written off 5. The computer equipment was purchased on April 9, 2020. Depreciation should be calculated on the computer equipment on the straight line basis at a rate of 20% per annum on cost. It is the policy of the business to charge a full month's depreciation in the month of acquisition or disposal. 6. On April 1, 2020 John Phelps received a loan of $75,000 from his mother, Interest should be charged on the reducing balance at a rate of 10% per annum. The first interest payment is to be made on March 31, 2021. The principal is being paid in equal instalments of $25,000 commencing on September 30. 2020, September 30, 2021 and September 30, 2022. Interest on loan was outstanding at December 31, 2020. 7. For some of the sales debit cards are accepted. John Phelps pays 2.5% debit card commission on gross debit card sales. 8. The balances at the end of each year are as follows: December 31, 2019 December 31, 2020 S S 41.000 48.500 Inventory Trade receivables 29.300 500 35.750 600 Prepaid rent Fixtures (net) Trade payables Debit card receivables 20,000 19.500 1.325 19,000 19.000 750 Required: a. Prepare the Statement of Affairs as at January 1, 2020 (10 marks) b. Prepare the Trade Receivables Control Account (3.5 marks) c. Prepare the Trade Payables Control Accounts (7 marks) d. Prepare the Debit Card Receivables Account (2.5 marks) e. Prepare the Income Statement for the year ended December 31, 2020. (25 marks) f. Prepare the Statement of changes in owner's equity for the year ended December 31, 2020 (7 marks) g. Prepare comparatively the Statement of Financial Position as at the year ended December 31. 2020 (25 marks) h. Prepare a Statement of Cashflow for the ended December 31, 2020. (20 marks) particulars Liabetes Assets S Loan from mother 50,000 $ Interest on Loan payable 6.875 $19.000 Debit card comession payable $ 1.000 Capital (Balancing Figure) $135,000 Trade payable $48.500 $ 35,00 $ 600 Inventory Trade receivables prepard rent Computer equipment Fixtures (net) Debit Card receivables Bank Balance $ 120,000 $49.000 $ 150 $ 232,900 $ 211, 815 $ 456,150 $24.845 particulars Amount particulars Amount Balance old 29,900 Book 9 30.100 Sales (federsing figure) ww.190 Discounts allowed $ 1.840 Goods related $1600 4,"150 Balance written off Tade paalde Corto Clouets Code Ourved by Lettie arom) $ 1.100 Balance eld $ 35,000 $4709 $4.40 Amount 4 19.500 $ 281.90 C Particulars Amount Particulars Bark 210.500 Balance bla purchase Balance Discounts allowed 350 Reque) $ Gloods returned 400 Trade Recevede ca 4 count 1.200 waram (Debt Owned tolle Balance eld 19.000 $ 200,950 $ 300950 2 Working Notes: Balance 5 31.12.2020 Add $135.000 nick yek tellected in the band balance Working notes 5 Bark Balance 05 31.12.2020 Add $135.000 not yet reflected in the bank balance Add $15.00 Teceived as a Joan trommes 1.0957 Repayment of Balment of the principal September 2010 2. Interest payment on Loan from mother terest should be charged on the reducing bolonce a rate of tot per arm Loan taken 2.02.0 Tokerest abone til September 20, 200, e worth (16000*40*912). Hence Repayment of practical of $25.000 on September 30, 2020) Ioan outstanding on October 1 2010 Interest on alle Deceoer 31, 2020 3:23 months C50000*10** 3/12) Total Interest payable on 31. 12. 2020 (ATB) 3 The closing trade recevable coded $950 in respect of a bad debt that have been written off now Depreciation on Computer equipment Full 12 months depreciation will be charged as Lit was pure based on April 9, 2020 and it's the policy of the bu 150000* 20 closing balance of computer couperent. purchase cost depreciation 150000 - 30000 terest should be charged on the mededing balance at rate OR 101 Det Loon taken on 2020 terele ane y September 30, 2020 e 9 months (-15000* AD91:2) * Repayment of principal of $25.000 on September 30, 9020 Hence loan outstanding on october 2 2020 Interest on alone Deceler 24-2020 ke 3 months C50000* 10:30) Total Interest payable on 31. 12. 2020 (A+B). 3 the closing trade receivable socluded 3150 in respect of a bad debt tot have been written of now Depreciation on computer equipment Full 12 months depreciation will be charged, as it was purchased on April 9. 2020 and it is the policy of the bu 16 0000* 20 * : closing balance of computer equipment purchase cost- depellation 150000 - 30000 5. Debit Card Commision payable Deloit Cord Sales Cas per bank account) Sales return by Customer Janet Hutton commision paalde @ 2.5% on $ 4000 S Joon pays 2:51 debit Card Coisico on gross debit card Sales ( Hence Debit Card Commission payaldes 1000 201