Question 2 Accounting for Incomplete Records PLEASE SOLVE ALL THE PARTS...

Following is the receipt and payment records of Al-Asim Traders.

Receipts Payments
Capital 500,000 Prepaid Rent			150,000
Loan 500,000 Purchases			650,000
Sales 880,000 Furniture			80,000
Commission Income 100,000 Advertisement			30,000
		Salaries	180,000
		Supplies	50,000
		Miscellanous	80,000
		Loan	500,000
		Interest on Loan	10,000
Additional Information:
1. Inventory on Hand Rs. 140,000
2. Salaries paid in Advance Rs. 10,000
3. Supplies on Hand Rs. 30000
4. Commission Still Receivable Rs. 20,000
5. Depreciation on Furniture Rs. 10,000
6. Rent Expired Rs. 60,000 Required:
1) Prepare Statement of Profit and Loss		(4 Marks)
2) Prepare Statement of Affairs		(3 Marks)