Financial Accounting Assignment_Two_Fall_2020 - Word Danielle Toy Layout References Mailings Review View Help Tell me what you want to do Jay Brooks prints and published study materials. He has prepared the following trial balance as at 30 June 2017 Dr CI $ $ 60 000 10 000 120 000 13200 5 600 12. 200 1 550 4150 Purchases Inventory mt 1 July 2016 Sales Distribution costs Administrative and selling expenses Trade receivables Discount allowed Bank balance Capital account at 1 July 2016 Discount received 6% Bank loan Non current assets at carrying amount Capital introduced in the year Loan interest paid Drawings Trade payables Wages Suspense 73100 2.500 10 000 102 500 5000 300 8000 3 600 15 000 228350 8.000 228 350 The following is to be taken into account 1. Inventory valuation at 30 June 2017 was 512 000 2 Jay decided to write offan recoverable recevable of 51000. This should be accounted for an administrative and selling expense The wagen cost should be split equality between cont of sales and administrative and selling expenses 4 Discounts allowed should be accounted for as an administrative and selling expense 5 The bank loan we taken out on July 2016 The detection charge for the year of 5000 on peoperty plant and equipment has not yet been accounted for. It should be easiest of Sale The balance on the secout represents the proceeds from the data of an item of property plant and uipment. At the date of coposal, this item badet carrying out of $10000 The across a disposal should be accounted for a cost of the Prepare the statement of profit or loss for the year ended 30 June 2017 together with the statement of financial position is at 30 June 2017 on behalf of Jay Brooks (30 marks) O e 0