NEW Question 1 (23 marks) Part A The following events occurred for HSU Limited for the month of January 2022. Date 1 Jan 10 Jan Tempe 12 Jan Prepaid $100,000 of office rent for the period from 1 January to 28 February 2022 Performed services for customers and received $120,000 cash Performed services for customer on account totalling $80,000 Collected $40,000 cash on account from the customer Purchased computer for $35,000 in cash. Borrowed $500,000 from Bank by signing a note payable. Paid $2,000 cash for electricity and $19,000 cash for January's salary 18 Jan 25 Jan 31 Jan 31 Jan 31 Jan Adjusted the rent expense for January 2022 (refer to 1 January). Required: 31 Jan Paid S2,000 cash for electricity and S19,000 cash for January's salary. Adjusted the rent expense for January 2022 (refer to 1 January) 31 Jan 1007 Required: Prepare the above journal entries for the month of January 2022 for HSU Limited. Narration is NOT required (17 marks) Part B Mr Lee runs a business of delivery services. He had the following queries regarding the financial statements prepared by his part-time accounts clerk (1) An amount of repair and maintenance expense had been included in the income statement for the year even though it had not been paid by Mr Lee yet. (2) The family car of Mr Lee had not been reported as assets in the statement of financial position Required: Explain to Mr Lee regarding his queries about the above accounting treatments (6 marks) Total marks for Question 1: 23 marks TIR Question 1.23 marks) Part A The following events occurred for HSU Limited for the month of January 2022 400 Date 1 Jan Prepaid $100,000 of office rent for the period from 1 January to 28 February 2022 10 Jan Performed services for customers and received $120,000 cash 12 Jan Performed services for customer on account totalling $80,000, Collected $40,000 cash on account from the customer 18 Jan 25 Jan Purchased computer for $35,000 in cash 31 Jan Borrowed $500,000 from Bank by signing a note payable. 31 Jan Paid S2,000 cash for electricity and $19.000 cash for January's salary 31 Jan Adjusted the rent expense for January 2022 (refer to 1 January) Required: Prenses the above journal entries for the month of January 2022 for HSU Limited. Narration mark