Question 18. Alpha Limited was set up on 1 December 2012 to provide architectural advice to builders of apartments and office complexes. The trial balance of the company at the end of the first year of operation is as follows: Alpha Limited: Trial Balance as on 30 November 2013. Debit () Credit () Computers 15,000 Office equipments 9,000 Office supplies 3,970 Debtors 1,710 Cash 940 Bills receivable 3,400 Prepaid rent 12,000 Creditors 3,100 Unearned fees 2,800 Share capital 20,000 Dividends 1,500 Fee revenue earned 33,320 Salaries expense Electricity expense 460 Telephone expense 340 Total 59,220 59,220 10,900 The following additional information is available: The computers were purchased on 1 March 2013 at a cost of 15,000 and is expected to be useful for three years. The office equipment was purchased on 1 May 2013 for 9,000 and has an estimated useful life of ten years. None of these assets has any salvage value. The inventory of supplies on 30 November is 1,240. Fee revenue of 6,200 is due from customers Unearned fees include 2,100 earned in November. Salaries of architects for November totaling 2,600 have not been paid. The company paid twelve months' rent in advance on 1 January 2013 at 1,000 per month The bills receivable account represents a six-month bill for 3,400 given by a customer on 1 August 2013. The bill carries interest at 15% per annum. Income tax expense of 2,500 is payable on 30 November. Prepare a) the statement of profit and loss b) the balance sheet. 18 Marks) [7 Marks)