Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at the close of business on 31 July 2018 Debat Credit Purchases 65.240 137.425 Sales Capital Bank 45. 20.000 Discount allowed Returns Inwards Returns outwards Carriage inwards Rent Provision for doubtful dichts Office furniture Motor Van 12, 300 10, 500 Accounts Receivables Accounts Payables Drawings Salaries and wages General expenses Total 19,600 42.000 195,670 195,670 Additional Notes 1. Closing inventory 31 March 2017 P6,500 ii. Accrued salaries and wages PS, 000 CBOU 2020 Page 5 of 6 DEGREE January - June Assignment LA212 Introduction to Accounting I. Prepaid rent P800 iv. Provide for depreciation as follows Office furniture P560, Motor van P3.750 REQUIRED: a. Prepare a Statement of Comprehensive Income for the year ended 31 July 2018, (10 marks) b. Prepare a Statement of Financial Position as at 31 July 2018 (10 marks)