Fundamentals of Accounting tracted from the books of M. Monty books for the financial year ended This is a Trial Balance extracted from the books of M. Monty b December 30 2012 ACCOUNTS DR CR 198,000 98,000 65.000 3,200 32,600 289,000 178,000 55,200 1,400 1.400 2,800 97,000 10,000 4,600 Land & Building Capital Purchases & Sales Debtors & Creditors Returns Drawings Discounts Equipment Accumulated depreciation: Equipment Bank Inventory 01:01:2012 Rent Expenses Transportation in Electricity Telephone Interest Expense Wages Sundry Expenses Stationery Provision for Doubtful Loan: Long Term 36,700 13,000 1,300 8,000 900 700 33,000 900 160 860 48,000 589,860 589.860 Additional information i. Closing stock S 38,200. ii. Rent per month is $1,000. iii. Interest expense accrued $400. iv. Depreciate Equipment at a rate of 13 % on the book value. V. Reduce the provision of doubtful debt to $700. Required: 1) Show all workings for the adjustments. 2) Extract the financial statements at the end of the financial year