The requirements 1. Statement of profit and loss. 2. Owners Equity statement. 3. Financial positions

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the requirements.: 1. statement of profit and loss 2. owners Equity statement 3. financial positions statement. on 1 December luxury line paid the salary for last month. on 1 December luxury line purchase furniture, the discount 50 and transport 10 with no salvage value. it's being the depreciation 21. on 4 December luxury line incurred 700 for advertising cost on Account. on 5 December 5 collect from customer for trade Receivable 350. recorded 250 instead 350. on December 16 customer returned one men wallet was sold on 13 December receipt no. 1004. on 20 December luxury line owner withdrew 2500 to purchase graduated gift for his son. on 24 December the owner of luxury line made an additional investment for 25000. on 31 December luxury line obtained 25000 for loan must repaid within 11 months. on 31 December luxury line purchased land 120000 paid 20000 and 15 years of mortgage loan 100,000. for the month of December 2019 luxury line consumer the total 750 of electricity. luxury line received the bill on 24 January 2020. on 31 December luxury line accrued interest on long term borrowing 4830.

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Please do the statements the requirements

Purchases tracker Item Seller Tracking a Price Freight in VAT Status Date ordered Payment Date Leather handbag - Black P-100 1 BHD 300 BHD 10 BHD 15 1-Dec-19 Paid Fashion corner 1-Dec-19 P-303 1 Leather handbag - Brown 1 BHD 300 BHD 10 BHD 15 3-Dec-19 House of Fashion 3-Feb-20 Outstanding P-101 1 BHD 100 BHD 10 BHD 5 7-Dec-19 Paid Fashion corner 7-Dec-19 Men's Leather wallet - Black 1 Men's Fabric wallet - Brown House of Fashion P-304 1 BHD 50 BHD 10 BHD 2.5 10-Dec-19 Outstanding 10-Feb-20 P-102 1 Fashion corner BHD 100 BHD 10 BHD 5 12-Dec-19 Women's Leather wallet - Black Paid 12-Dec-19 P-305 1 1 BHD 10 BHD 50 BHD 2.5 18-Dec-19 Outstanding Men's Fabric wallet - Black 18-Feb-20 House of Fashion P-103 1 BHD 170 BHD 8.5 Loafers shoes - Brown BHD 10 20-Dec-19 Fashion corner Paid 20-Dec-19 Sneakers shoes - Blue 1 House of Fashion P-306 BHD 80 BHD 10 BHD 4 22-Dec-19 Outstanding 22-Feb-20 Sneakers shoes - Red P-307 1 House of Fashion BHD 80 BHD 10 BHD 4 28-Dec-19 Outstanding 28-Feb-20 Leather belt - Black P-308 House of Fashion 1 BHD 150 BHD 10 BHD 7.5 30-Dec-19 Outstanding 1-March-20 Additional Information related to Luxury line: On 1 December, Luxury line paid all the salaries due from last month On 1 December, Luxury line purchased furniture for cash with purchase price BHD 800, discount BHD 50, transportation cost BHD 10. The furniture has 3 years life with no salvage value. It is being deprecation at BHD 21 per month. On 4 December, Luxury line incurred BHD 700 of advertising cost on account. On December 5, Luxury line collected trade receivable from a customer BHD 350, the accountant recorded it at BHD 250 instead of BHD 350. On December 16, the customer returned one Men's leather wallet-Black sold on 13 December Receipt no 1004. On 20 December, the owner of Luxury line withdrew cash worth BHD 2,500 from an official bank account to purchase graduation gift for his son. On 24 December, the owner of Luxury line invested additional cash BHD 25,000. On 31 December, Luxury line obtained BHD 25,000 bank loan that must be repaid within 11 months. On 31 December, Luxury line purchased land for BHD 120,000 with BHD 20,000 as a down payment and a 15-year mortgage for BHD 100,000. For the month of December 2019, Luxury line consumes a total of BHD 750 of electricity. Luxury line received the bill on January 24, 2020. 31 December Accrued interest on long term borrowing BHD 4,830. Required: Task One: (LO 2, 3) (68 Marks) Assuming the role of Luxury line accountants, refer to the preceding business documents and the additional information to complete the accounting cycle to prepare the following end of 31 December 2019 financial statements: Statement of Profit or Loss Statement of Changes in Owner's Equity - Classified Statement of Financial Position Purchases tracker Item Seller Tracking a Price Freight in VAT Status Date ordered Payment Date Leather handbag - Black P-100 1 BHD 300 BHD 10 BHD 15 1-Dec-19 Paid Fashion corner 1-Dec-19 P-303 1 Leather handbag - Brown 1 BHD 300 BHD 10 BHD 15 3-Dec-19 House of Fashion 3-Feb-20 Outstanding P-101 1 BHD 100 BHD 10 BHD 5 7-Dec-19 Paid Fashion corner 7-Dec-19 Men's Leather wallet - Black 1 Men's Fabric wallet - Brown House of Fashion P-304 1 BHD 50 BHD 10 BHD 2.5 10-Dec-19 Outstanding 10-Feb-20 P-102 1 Fashion corner BHD 100 BHD 10 BHD 5 12-Dec-19 Women's Leather wallet - Black Paid 12-Dec-19 P-305 1 1 BHD 10 BHD 50 BHD 2.5 18-Dec-19 Outstanding Men's Fabric wallet - Black 18-Feb-20 House of Fashion P-103 1 BHD 170 BHD 8.5 Loafers shoes - Brown BHD 10 20-Dec-19 Fashion corner Paid 20-Dec-19 Sneakers shoes - Blue 1 House of Fashion P-306 BHD 80 BHD 10 BHD 4 22-Dec-19 Outstanding 22-Feb-20 Sneakers shoes - Red P-307 1 House of Fashion BHD 80 BHD 10 BHD 4 28-Dec-19 Outstanding 28-Feb-20 Leather belt - Black P-308 House of Fashion 1 BHD 150 BHD 10 BHD 7.5 30-Dec-19 Outstanding 1-March-20 Additional Information related to Luxury line: On 1 December, Luxury line paid all the salaries due from last month On 1 December, Luxury line purchased furniture for cash with purchase price BHD 800, discount BHD 50, transportation cost BHD 10. The furniture has 3 years life with no salvage value. It is being deprecation at BHD 21 per month. On 4 December, Luxury line incurred BHD 700 of advertising cost on account. On December 5, Luxury line collected trade receivable from a customer BHD 350, the accountant recorded it at BHD 250 instead of BHD 350. On December 16, the customer returned one Men's leather wallet-Black sold on 13 December Receipt no 1004. On 20 December, the owner of Luxury line withdrew cash worth BHD 2,500 from an official bank account to purchase graduation gift for his son. On 24 December, the owner of Luxury line invested additional cash BHD 25,000. On 31 December, Luxury line obtained BHD 25,000 bank loan that must be repaid within 11 months. On 31 December, Luxury line purchased land for BHD 120,000 with BHD 20,000 as a down payment and a 15-year mortgage for BHD 100,000. For the month of December 2019, Luxury line consumes a total of BHD 750 of electricity. Luxury line received the bill on January 24, 2020. 31 December Accrued interest on long term borrowing BHD 4,830. Required: Task One: (LO 2, 3) (68 Marks) Assuming the role of Luxury line accountants, refer to the preceding business documents and the additional information to complete the accounting cycle to prepare the following end of 31 December 2019 financial statements: Statement of Profit or Loss Statement of Changes in Owner's Equity - Classified Statement of Financial Position