Part A (10 marks) 1) The following information relates to two different sole traders at the same point in time. Item Sole trader 1 Sole trader 2 Cash at bank Accounts receivable Supplies Equipment Accounts payable Capital (opening balance) Additional capital contribution during the period Profit Drawings Capital (closing balance) $15 900 12 000 15 600 35 000 9 000 49 600 ? 19 600 10 000 69 500 $53 000 45 000 39 000 69 000 57 000 107 000 15 000 36 000 9 000 ? i) Fill in the missing number(s) for each of the situations given above. (2 marks) ii) Calculate the total assets for sole trader 1. (2 marks) iii) Both sole traders report Accounts Receivable and Accounts Payable. Identify the nature of each of these accounts (i,e., assets, liabilities, equity, income, or expenses), and indicate whether the account would appear in a Balance Sheet, Income Statement, and/or Statement of Changes in Equity. (2 marks) Account Nature Financial statement Accounts receivable Accounts payable 2 iv) There are two accounting systems, Accrual basis and Cash basis. Based on the information provided above, identify which accounting system is adopted by the two sole traders to record their transactions? Justify your answers. (3 marks) Provide ONE example of accrual account. This account must not be used by the sole traders. (1 mark)