Statement of Profit and Loss for the year ending and statement of financial position.

Jon. -pr.2020 Animate!!! 2 34106 Introductory 'Accomstt'ng Answer ALL questions. Question 1 Mr. Khan is a sole trader and you are given the following information relating to his business: Trial balance as at 30 September 2020 Dr Dr RM RM Inventory as at 1 October 2019 19.134 Wages & salaries 105.433 Sales 452.920 Carriage inwards 2.229 Rent 13.465 Gas 20.005 Purchases 226.355 Accounts receivable 24.400 Account payable 53.249 Machinery: at cost 232.140 Computers: at cost 92.030 Machinery: accumulated depreciation at 1 October 2019 77.580 Computers: accumulated depreciation at 1 October 2019 54.500 Drawings 34.102 Bank 1.1307 Bad debt expense 13.403 Allowance for doubtful debts at 1 .D'ctober' 2019 2.216 Capital 19.1.3 19 M 344.30] Additional tnl'onturtiou: 1. The inventory was counted at 30 September 2020 and was valued at Rik-119.491 2. Depreciation is to bra-applied at the following rams: Machinery: {reducing balance} 15% Computers: (straightline} 25% 3. The amount shown for rent on the trial balance includes a payment of \"10,500. which represents twelves months' rent to 31 May 2021. 4. Gas charges incurred for which no invoices have yet been received amount to a total of EMA-.3135. 5. The allowance for doubtful debts is to be set at 4 percent ofr accounts receivable. Req nit-ed: (a) Prepare a Statement of meit or Loss for the year ending 30 September 2020. (13 marks) {b} Prepare a Statement of Financial Position as at 30 September 2020. {12 marks} All relevant workings must be shown. ['I'olal: as Marks]