explain the exercise in detail please !

Question 1 ABC Lad started business on January 1 2014, and its financial year end on December 31 each year. It had the following Machinery as at December, 2018, S 2014 January 1, bought one machine costing 13,000 2015 June 30, bought one machine costing 78,000 2015 October 1, bought two machines conting 10,400 each 2017 April , bought one machine costing 52,000 2018 March 1 bought two machines 11.700 each The company's policy is to depreciate assets at a rate of 15% per annum using straight line method on is one month ownership basis Required: prepare the following: 1. Statement of depreciation accounts: b. Machine account and c. Provision for depreciation account. Question 2 The following is the bank account summary of Jimah & Co. for the year ended 31 December, 2015. (A amount satell in 5) Cash Account Balb/d 1/1/2015 40,200 Cash paid to suppliers 32,600 Cash from customers 62,000 Salaries 12.000 Additional capital 10,000 Credit purchases 31.100 Credit sale 60,000 Rates 5.000 Drawings 16,000 General expenses 4.400 Bal c/d 71.100 172,200 172,200 Additional information: 1/1/2015 Receivables 26,000 Inventory-in-trade 41,000 Payables 17,000 Advertising due 9.000 Rent owing 1.200 You are required to prepare; 1. Statement of affairs: b. Statement of profit or loss for the year 31 December, 2015: c. Receivables account: d. Payables account 31/12/2015 24,000 39,000 15,500 10,200 1,400 (Total: 100 marks)