Jane Grimes, retail fruit and vegetable merchant, does not keep a full set of accounting records. However, the following information
1. Summary of the bank account for the year ended 31 August 20X3:
2. Assets and liabilities, other than balance at bank:
3. All receipts are banked and all payments are made from the business bank account.
4. A trade debt of £300 owing by Peter Blunt and included in the trade receivables at 31 August 20X3 (see point 2 above) is to be written off as a bad debt.
5. It is Jane Grime's policy to provide depreciation at the rate of 20 per cent on the cost of motor vans held at the end of each financial year; no depreciation is provided in the year of sale or disposal of a motor van.
6. Discounts received during the year ended 31 August 20X3 from credit suppliers amounted to £1,000.
a. Prepare Jane Grime's statement of profit and loss for the year ended 31 August 20X3.
b. Prepare Jane Grime's statement of financial position as at 31 August 20X3?
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