Rewrite the asset register as drafted below thereafter calculate and fill in all the missing figures.

The depreciation method:Straight l..e@20%.

Date of purchase:31 Oct 2014.

Part B:

Prepare the statement of profit or loss and other comprehensive income for the year ending 31 December 2019.

-Prepare the statement of financial position for the year ending 31 December 2019.

Prepare the following general ledger accounts balance and close off properly at the end of 31 December 2019:

-Vehicle account

-Accumulated depreciation account

-Depreciation account

-Asset disposal account

[Please refer to the following attachments to answer the above questions.]

Note:Part A and B are interelated.

Asset register is part A

( 2 mark (2 mark (2 marks PART B preciation LIST OF BALANCES / TOTALS [40 marks] ( 2 marks ehicle Inventory (31/12/2019) Land and buildings 95 440 Drawings 220 000 (1 mark 46 690 Method and Interest Received Capital 5 100 (4 marks Trade Receivables 210 000 d fill in all 10% Long-Term Loan 26 700 (10 marks) Fixed Deposit 118 000 ancial Bank (CR) 25 000 Rent received 15 030 ( 1 mark) Stationery 74 110 em off Trade Payables 10 130 Credit sales 23 840 (11 marks) Cash sales 310 000 Account Payable allowances 73 570 Account Receivable allowances 2 1002 Purchases 1 700 Donations Expenses 141 000 Rates and taxes 4 500 Interest on Loan 8 180 Bank charges 3 230 1 370 of why Salaries and wages Railage on goods 103 080 1 300 learner ADDITIONAL INFORMATION: 1. Stationery on hand amounted to R 390. ion. 2. The amount of R 2 890 for credit losses recovered were erroneously credited to Account Receivable Control. 3. The profits realized on asset disposal were omitted from the trial balance. 4. Closing inventory was R89 170. TO 5 . Write off an amount of R1 700 as irrecoverable. 6. Create an allowance for credit losses of 10% on good trade receivables. using 7. A replacement Vehicle was bought and delivered on the 21 December 2019. 8. The proceeds from the disposal of asset were omitted in the bank account. YOU ARE REQUIRED TO: 1. Prepare The Statement of Profit or Loss and Other Comprehensive Income for the year ending 31 December 2019. (16 marks) 2. Prepare The Statement of Financial Position for the year ending 31 December 2019. (18 marks)) 3. Which principle in accounting allows the recognition of accounts receivable and accounts payable transactions into accounting books? ( 2 marks) 4. State the accounting principle applied to determine the performance of an entity at the end of the financial period. (2 marks) Page 3226. Asset register Date of use Cost price Residual Depreciable Depreciation Carrying value amount value 01/1 1/2014 250 000 8 000 242 000 8 067 203 938 241 933 31/12/2015 31/12/2016 31/12/2017 ? . J. J . V 31/12/2018 01/09/2019 ? 01/09/2019 7