Prepare the Statement of Comprehensive Income and the statement of financial position for the year ended 31 December 2022.

 

The Trial balance for a Rahman Trading as at 31 December 2022 is as follows: (111) Accounts (iv) (v) Sales Purchases Cash in Hand Cash in Bank Capital on 1 Jan 2012 Drawing Office furniture & fixtures Rent Wages Discount allowed Accounts receivables Accounts payables Inventory on 1 Jan 2012 Motor vehicles At 31st Dec 2022 the following transactions were: (i) (ii) Accumulated depreciation - motor vehicles Provision for doubtful debts on 1 Jan 2012 Bad debts Inventory on 31 Dec 2022 was valued at $ 1,500. Rent prepaid is $ 200. Wages accrued are $ 600. Provision for doubtful debts is 10%. Debit $ 10,000 1,000 3,000 2,500 4,500 1,400 3,600 300 4,200 1,300 25,000 400 57,200 Credit $ 20,000 31,600 2,800 2,500 300 57,200 Depreciation on furniture and fixtures is 10% on cost and on motor vehicles is 20%, using the reducing balance method.