Please Answer all questions

1. The following trial balance was extracted from the books of Adwumawura Limited at the close of business on 28th February 2017. Dr. Cr. GH GH Purchases and sales 92,800 157,165 Cash at bank 4,100 Cash in hand 324 Capital account 11,400 Drawings 17,100 Office furniture 2,900 Rent 3,400 Wages and salaries 31,400 Discounts 820 160 Debtors and creditors 12,316 5,245 Stock (1 March 2016) 4,120 Provision for doubtful debts 405 Delivery van 3,750 Van running cost 615 Bad debt written off 730 174,375 174,375 Notes: a) Stock 28th February 2017 GH2,400. b) Wages and salaries accrued at 28th February 2017 GH340. c) Rent prepaid at 28th February 2017 GH230. d) Van running cost owing GH72. e) Increase the provision for doubtful debt by GH491. f) Provide for depreciation: office equipment GH380; delivery van GH 1,250. Required: Draw up trading and profit and loss account for the year ending 28th February 2017 with a balance sheet as at date. 10 marks 2. "The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information! The above is the definition of Accounting by the American Accounting Association. Discuss the definition with reference to the underlined and bold items. 10 marks 3. The financial year of the Government of Ghana is from the 15 January in one year to the 31* December of the same year which applies to most business operating within the jurisdiction. Discuss Completeness and Materiality in relation to the preparation of financial statements. 10 marks 4. Write short notes on the following: 1. The elements of the Accounting Equation 2. Bad debts and provision for doubtful debts 3. Depreciation charge and Provision for Depreciation 4. Capital Expenditure and Revenue expenditure 10 marks