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how to do Question 2 Given below trial balance of Chong Trading as at 31 December 2022 Additional information: 1. Closing stock as at 3112.2022

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Question 2 Given below trial balance of Chong Trading as at 31 December 2022 Additional information: 1. Closing stock as at 3112.2022 valued at $3,500. 2. Insurance of $220 prepaid for next year. 3. Salaries and wages of $500 still outstanding 4. Depreciation of 20% on cost to be provided on office equipment. Required Prepare the Income Statement for the year ended 31 December 2022 and Statement of Financial Statement as at 31 December 2022. (40 marks)

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