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Additional information The following trial balance was taken for the records of Amesome Traders at 31 1. A physical inventory count held on 31 December 2019 revealed the following December 2019: * Inventory on hand R108 900 Stationery on hand REOO Balance shoot account section Insurance for the month of January 2020 has airandy boon paid for. 3 The water and electricity bil for November & December 2019 was received on Capital 5001030 the 30" of December 2019 and no payment was made yet 23 700 Loan from ABC Bank @ 22%% p.a. 150 000 4. The telephone bill for December wars only received on the 29" and no Land A RuklingT Fast 305000 payment has been made Plant & Machineryz @ coil 120 000 52 500 5. Rental income for January 2020 was received on the 30 al December 2019 Accumulated depreciation . Plant A Machinery Motor vehiclesTLcost 139 000 Interest income is received in June and December each year. The interest Accum Lated depreciation - Motor vehicles 24 800 income for December is still outstanding Fixed deposit . Bull Bank @ 15%pa. 1 14 000 7. T Thomas is a dobior has been dociared insolvent. His debt of R2 000 must Accounts receivable 125 000 Allowance for evil loves 5030 be prition off Bank 30: 300 Allowance for credit losses must be adjusted to 7% of outstanding debts. Petty cash 10 000 Depreciation for the year must be accounted for as follows Inverter 0 1Jan 2010 1 10 000 . Plant & Machinery 20% (alright line method) . Motor Vehicles 15%% (inducing balance method) Nominal necount section 975 020 Required: Sales riums 27 000 insurance 24000 1.1. Prepare the statement of profit or loss and other comprehensive income for Water & Electricity 30 000 the year ended 31 December 2019 (27 Marks] Salaries & Wages 190 000 Telephone Prepare the statement of financial position for the year ended 31 December 15 950 13 000 2019 (Together with the relevant notes). (23 Marks] Stationery 5 000 Commissioned received 24090 NB: Show all your calculations Purchases 340 000 Patrol 11 900 Motor vehicle repairs & maintenance 31 0Q0 END OF ASSIGNMENT Rant income 28 020 Interest income 8 550 1 844 050 1 844 850