Disc Disc Lan Mc Pry 3rd Year Depreciation 2.3 Applying Adjusted Entries in Preparing Income Statements anu Darauer Duet Illustration I O The following are some of the balances extracted from the books of Mullins Ltd at the beginning and the end of the accounting year ending 31" December 2017. 1/01/2017 31/12/2017 750 41,200 700 5,300 300 900 Insurance prepaid 38,700 Wages & Salaries Owing Rent Receivable prepaid Provision for Doubtful Debts 4,800 The following information relates to the operations during the year 2017. Insurance paid 7,400 Wages & Salaries paid 488,000 Rent Received Bad Debts written-off 5,100 4.200 etween Amo 16. where detem 'n pras Financial Accounting All receipts and payments were carried through the bank account. Required: a) Prepare the following ledger accounts for the year ended 31" December 2017 and include in each case the amount to be transferred to the profit & loss accounts for the year, with appropriate balances carried down to the next accounting year: i) Insurance Account ii) Wages & Salaries Account iii) Rent Receivable Account iv) Provision for Doubtful Debts Accounts v) Bad Debts Accounts. b) Prepare the Profit & Loss Accounts exracts for the year ended 31st December 2017 showing: insurance, wages & salaries, rent received, provision for doubtful debts and bad debts. c) Prepare the Balance Sheet extracts as at 315 December 2017 showing; insurance prepaid, wages & salaries owing and rent receivable prepaid. late Nlustration II antad fram the heaks of Tradex Ltd as at 31st December 2020