Debit ($)	Credit ($)
Sales		315,000
Purchases	96,840
Carriage inwards	4,100
Carriage outwards	10,650
Office expenses	24,565
Salaries	55,025
Advertising	25,000
Utilities	13,450
Insurance	20,700
Returns	32,700	17,200
Bank overdraft		25,000
Trade receivables	29,800
Inventory as at 1 Aug 2022	18,500
Fixtures and fittings	37,300
Accumulated depreciation - Fixtures & fittings, 1 Aug 2022		10,170
Office equipment	108,100
Accumulated depreciation - Office equipment, 1 Aug 2022		15,700
Trade payables		20,460
8% Loan repayable (2033)		20,000
Capital at 1 Aug 2022		60,000
Drawings	9,400
Discounts	1,200	3,800
	487,330	487,330

Additional information:

a. Insurance of $4,100 for July 2023 will only be paid on 6 August 2023.

b. The advertising expense shown above is for advertisements for five months commencing 1 May 2023.

c. Lee Ltd., who owed Golden Co. $60,000 settled the amount early and was given a 5% cash discount. The discount was not recorded.

d. An invoice/bill from a credit supplier for purchases of $5,000 was recorded wrongly as $5,500.

e. A laptop which costs $3,100 was recorded wrongly into the fixtures and fittings account.

f. Rent revenue of $3,600 for Jul 2023 has not been received nor recorded.

g. Gordon bought a fax machine for $3,200 for business use, paying with his personal funds. This transaction has been omitted from the accounts.

h. Cash drawings of $12,000 by Gordon were still unrecorded at year-end.

i. Annual depreciation on fixed assets is to be recorded as follows:

Fixtures & fittings - $8,350

Office equipment - $13,698

j. Stock as at 31 July 2023 amounted to $55,000.

Required:

(a) Show journal entries for adjustments (a) to (i). Narrations are not required.

(Hint: For some transactions, you will need to create new accounts which are not shown on the trial balance.)

(b) Prepare the following financial statements forGordon:

(i) Statement of Comprehensive Income for the year ended 31 July 2023;

(ii) Statement of Financial Position as at 31 July 2023.