SECTION B (50 marks). Answer all questions. QUESTION 1 Ms Julie is a sole trader and you are given the following relating to her business Trial balance as at 30 September 2021 G Inventory as at 1 October 2020 Dr 19,134 Wages and salaries 106,483 Sales Carriage inwards Rent Gas Purchases Accounts receivable Accounts payable Machinery: Cost Computers: Cost Machinery: Accumulated depreciation at 1 October 2020 Computers: Accumulated depreciation at 1 October 2020 Drawings Bank 13,408 2,276 Bad debt expense 191,319 844,301 Allowance for doubtful debts at 1 October 2020 Capital 844,301 The following additional information is available: i. The inventory was counted at 30 September 2021 and was valued at GHC19,491 Depreciation is to be appliedat the following rates: ii. a. Machinery: (reducing balance) 15% b. Computers: (straight-line) 25% 2,229 18,465 20,005 226,855 74,400 232,140 97,080 34,102 462,970 53,749 77,580 54,600 1,807 SECTION B (50 marka). Answer all y QUESTION 1 Ms Julie is a sole trader and you are given the following relating to her b Trial balance as at 30 September 201 De Inventory as at 1 October 2020 Wages and salaries Sales Carriage inwards Rent Kias Purchases Accounts receivable Accounts payable Machinery: Cost Computers: Cost Machinery: Accumulated depreciation at 1 October 2020 Computers: Accumulated depreciation at 1 October 2020 Drawings 34,102 Bank Bad debt expense 13,408 2,276 Allowance for doubtful debts at 1 October 2020 Capital 191,319 844.301 844.301 The following additional information is available: i. The inventory was counted at 30 September 2021 and was valued at GHC19,491 Depreciation is to be appliedat the following rates: ii. a. Machinery: (reducing balance) 15% b. Computers: (straight-line) 25% iii. The amount shown for rent on the trial balance includes a payment of GHC10,500, which represents twelve months' rent to 31 May 2022 iv. Gas charges incurred for which no invoices have yet been received amount to a total of GHC4,786 V. The allowance for doubtful debts is to be set at 4 per cent of accounts receivable You are required to prepare the income statement for the year ended 30 September 2021 and a balance sheet (statement of financial position) as at that date. Page 6 of 7 G 19,134 166,403 2,229 18,465 20,005 226,855 14,400 232.140 97,080 462,970 53,749 77,580 54,600 1,807