Please see the questions attached onto file uploaded.

1. Depreciation had not been provided on any of the assets purchased in the current period. The hotel uses The following information was extracted from the books of Ocean Secrets Hotel and Spa account for the the reducing balance method to calculate the depreciation on its non-room assets and charges a full year ended December 31, 2012. year's worth of depreciation on the asset in the year of purchase. $ Revenue Type of Asset Cost $ Net Book Value$ Rate Rooms 600,000 Food 450,000 Beverage 120,000 Telephone 45,000 Computer Equipment 250,000 175,000 5% Other Income 33,400 Laundry Equipment 200,000 100,000 10% Costs and other data Opening Stock- Food 40,000 Tools 50,000 25,000 20% Opening Stock - Beverage 30.000 Purchases Food 100,000 1. Additionally, the hotel estimates that 10 guest's rooms built during the year at a total cost of Beverage 75.000 $3,000,000 and will have a useful life of 10 years and a negligible residual value. You are to calculate the depreciation on the rooms, charging a full year's worth of depreciation. Departmental Payroll and related expenses Rooms 80,000 3. A following items relevant to the 2012 period have not been paid: Food 100,000 (a) A National Water Commission bill in the amount of $1,200 Beverage 75,000 (b) A Jamaica Public Service bill in the amount of $4,950 Telephone 20,500 Administrative & General 40,000 4. Income tax is to be charged at a rate of 25%. Please round to the nearest whole number. Marketing 10,500 Property Operation & Maintenance 20,500 5. Stock as at December 31, 2012: Food $10,000 Other Departmental Expenses Beverage $9,500 Rooms 50,000 Required Food 30,000 Prepare an Income Statement based on the uniform system of accounts format. Show all workings. Beverage 20,000 Telephone 4,000 Admin & General 40,000 Marketing 25,000 Energy Costs 30,000 Property Operation & Maintenance 17,500 Fixed Charges Property Taxes and fixed rates 20,000