QUESITON TWO (a) Explain and contrast the following terms: (i) Partnership Deed, Articles of Association, Memorandum of Association (ii) Capital reserves vs Revenue reserves (iii) Bonus issue vs Rights issue (9 marks) The Trial balance extracted from the books of CHANGOI LTD as at 31 " December 2022 was as follows: The following additional information is also provided: i) The authorized and issued share capital is divided into 100,000 shares of sh.1 each ii) Inventories at 31* December 2022 was sh.29,149 iii) Wages and salaries due at 31 " December 2022 amounted to sh.300. iv) A dividend ofsh.10,000 is proposed for 2022. v) The provision for doubtful debts is to be increased to sh.938. vi) A depreciation charge is to be made on machinery at the rate of 10 percent per annum on cost. REQUIRED a) Income statement for the year ended 31 December 2022 (12 marks) b) Statement of Financial position as at the same date (7 marks) TOTAL 25 MARKS