Read the following details carefully. Mr. Ahmed, a sole proprietor, and don't have deep knowledge about the various concepts of accountig. The business has the followig Trial balanec as at 31" May 2021: Trial Balance as at 31 May 2021 Particulars Sales 120000 Purchase 50000 Carrage 2000 Drawings 1200 Rent, rates and insurance 2000 Postage and stationery 100 Advertising 3000 Salaries and wages 1000) Bad debts 60 Provision for doubtfuldebts 160 Debtors 12000 Creditors 12500 Cash in hand 500 Cash at bank 20000 Stock as at 1 June 20X5 15000 Equipment at cost 50000 accumukted depreciation 4000 Capital 29200 165860 165860 The following additional information as at 31 May 2021 is available: (a) Rent is accrued by OMR 250. (b) Rates have been prepaid by OMR 990. (C) OMR 700 of carriage represents carriage inwards on purchases. (d) Equipment is to be depreciated at 15% per annum using the straight line method. (e) The provision for doubtful debts to be increased by OMR 120. Stock at the close of business has been valued at OMR 12,550. You are required to do the following: i) From the above details, explain to Mr. Ahmed (your own words) especially about each additional items (a) to (f. ii) Prepare Trading Account, Profit and Loss Account for the year ended 31" May 2021 and Balance sheet as on that date. Note: Your answers should include the following sections: 1) Introuduction 1) Discussion III) Reviews / Recommendations IV) Conclusion v) Bibliography/References