Section A. (30 Marks Pata Ory, a solerader, personal business called Short Cuts that sols bespoke clothing. At the end of the last accounting period. 30th September 2020. the business's dance provides the following agres CIRI URI Sherat 72.000 Future 15.000 Post 8.000 Myner Woche 30.000 22.500 Worry 10 2018 Mango 50.000 Blanket Trade Rece 43.000 Trade Payable 36.000 27.000 Capai Di 3.000 125.400 Pude 75.000 12.500 General Euro Syawan Pert Ramin Petrol 6700 2.000 200 1.200 2.899 Decollowed Rent 1.121 320 104,20 Additional information 1 The value of Inventory on 30 September 2020 is 120.000 2. A provision for doubul debts is to be created at 10% of trade receivables 2. Rites pre-paid on 30 September 2020 amounts to $200 * 30 September 2020 is expected to be CATS and salaries are accrued by 1.025 5 Depreciation is to be provided forfollow Fores 10% on the reducing balance basis Motor vehicles 25% on the staght-line basis You are required to: faPrepare the woment of comprehensive income for Short Cuts for the you ending 30 September 2000 (15 mars b) Prepare the statement of financial position for Short Culs as at 30 September 20120 (15 marks) Section A. (30 Marks) Pete Ory, a sole-trader, operates a retail business called Short Cuts that sells bespoke clothing. At the end of the last accounting period, 30th September 2020, the business's trial balance provides the following figures: E (DRI EICRI Shop premises (at cost) 72.000 Fixtures (at cost) 15,000 Fixtures: accumulated depreciation (as at 1/10/2019) 8.000 Motor Vehicles (at cost) 30,000 Motor Vehicles: accumulated depreciations at 1/10/2019) 22,500 Inventory (as at 110/2019) 18,000 Mortgage 38,000 Bank overdraft 5,100 Trade Receivables 43,000 Trade Payables 35.000 Discounts received 1,840 Capital 27,000 Drawings 2.000 Sales 129,400 Purchases 75,000 Salaries 32,500 General Expenses 3,300 5 year Loan 32,000 Rent & Rales 6,700 Retums in 2.000 Returns out 900 Cash 1.200 Discount allowed 2.373 Rent receivable 4,480 Loan interest 1.127 304,200 304,200 Additional information 1. The value of Inventory on 30 September 2020 is 20,000 2. A provision for doubtful debts is to be created at 10% of trade receivables. 3. Rates pre-paid on 30 September 2020 amounts to 200. 4. General expenses owing at 30th September 2020 is expected to be 475 and salaries are accrued by 1,025. 6. Depreciation is to be provided for as follows: . Fixtures: 10% on the reducing balance basis. Motor vehicles: 25% on the straight-line basis