Question 1

Notes: a. Prowide for derenciation on motor veticle at 54, on the rodacitur halunce b. Iniarasce is prepaid by $4,000 while wagen and salaries s aotes by $20,000 c. The poodwall shonld be written doun by 25% 4. Transfer $25000 frum profits to the jencral reserves c. Comporation tax is estimated at 530000 f. The following itcme of expense shinild he apportioned: E. Prior bo the ind of the year the directons appooved the follorieng. 1. fecfertnee ahare dividenals is to be acouumtal for in fall 1i. a new iboe of 160.000 onfinary shares with par of 50.50 per abse, anownt collexthd was 575,000 Reguired: Prepare the fellewingt L. Statement of prefit and less ii. Statement of changes im equity iii. Stalement of financial position