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The trial balance of BCB Limited as at 31 December 2020 appeared as follows: Dr E Cr f 120,000 617,100 223,500 4,800 1. 5,500 2,000 2 45,000 46,000 75,000 3 You are provided with the following information The provision for doubtful debts is to be adjusted $0.95 to represent 8% of trade receivables. Bad Debt of 1,200 to be written off. Equipment's are to be depreciated by 20% using the straight-line method Motor vehicles are to be depreciated by 20% using the reducing balance method. Outstanding bills for the period: Electricity - E725 Insurance has been paid up until 31 March 2021 The closing inventory was valued at 39,000 27,000 Share capital Sales revenue Purchases Returns inwards Returns outwards Provision for doubtful debts Bank Inventory Motor Vehicles at Cost Motor Vehicles - Accumulated Depreciation Equipment at cost Equipment - Accumulated Depreciation Trade Payables Trade Receivables 10% loan 10% loan interest Wages and salaries Telephone Light & Heat Insurance Repairs & maintenance Advertising Bad debts expense 4. 290,500 36,200 5. 6. 24,000 36,000 7 40,000 2,000 91,500 1,800 26,000 15,000 7,400 4,000 3,300 871,800 Required: prepare for the year ended 31 December 2020 - using the above information: 0 An Income statements 1) A Statement of Financial Position 871,800

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