2 - SECTION 1 Answer the THREE questions in this section. Isa is a sole proprietorship trading in hair products and accessories For the year ended 30 April 2013, the following transaction reports on Isa's business were provided. 1. S 68 540 9000 Gross income Fixtures and fittings Provision for depreciation on fixtures and fittings Delivery van Provision for depreciation on delivery van Receivables (Debtors) Provision for Doubtful Accounts 1 800 12 000 2 360 3 200 500 10 740 Equipment Cash 300 5 880 3 120 7700 Bank Discounts received Payables (Creditors) Rent paid Wages and salaries Utilities 6 500 18 000 9 500 NOTES: cl Stock Inventories at 30 April 2013 were valued at $6 590 A Provision for Doubtful Accounts of 10% of outstanding receivables is to be allowed. Depreciation is to be provided for as follows: . Fixtures & fittings - 10% by the straight line method Delivery van -20% by the reducing balance method Annual rental costs S6 000. $200 was due for utilities 0123920/1ANUARY/F 2014 GO ON TO THE NEXT PAGE Prepare Isa's Income Statement (Profit and Loss Account) for the year ended 30 April 2013 (14 marks) Calculate the total value of Isa's Current Assets as at 30 April 2013. Show all working elearly. (5 marks) Calculate the monthly rental amount. (1 mark) Total 20 marks )