solve Q:1 please the the we have one houre

Question No. 2: The following Trial Balance was extracted for the books of Platinum Ltd, at 31 December, 2005 Share capital, authorized and issued Rs. Rs. 16,000 Shares of Rs. 10 each 160,000 Freehold premises at cost 101.000 Plant and machinery at cost 40.000 Stock in trade at 1 January 2005 51,352 Balance at bank 4.289 Provision for Dep. plant and machinery 1 January 2005 20,000 Bad dcbts written off Provision for doubtful debts at 1 January 2005 390 Directors remuneration 14,000 Debtors and creditors 17,492 13,298 Profit and loss account balance at 1 January 2005 12.44 Purchase & Sales 142,998 194,542 General expenses 6.242 Wages 19.285 Rent and rates 3.200 Rs 400,678 Rs.400,678 You are given the following additional information #) The provision for doubtful dels is to be increased to Rs 500 b) Stock in trade at 31 December 2005 was Rs. 56,778 c) Wages outstanding at 31 December 2005 amounted to Rs. 482 d) Provision for depreciation of plant and machinery is to be made at the rate of 10% pa on cost c) Rent and rates amounting to Rs. 350 were paid in advance at 31 December 2005 The directors propose to pay a dividend of 5% on the issued capital and to transfer Rs. 60,000 to General Reserve. Question No. 1: A) Nauman Afzal bought three motorcars during 2010 as follows Car XYZ, on 1 January for Rs.500,000 Car SDA, on 1 April for Rs.600,000 Car CVS, on 1 July for Rs.480,000 She closes her books on 30 September each year and provides 20% p.a depreciation on book value on all motorcars. On 1 October 2011 he sold car XYZ for Rs. 300,000. On 1 January 2012 she traded in car SDA, at Rs. 390000 for another car CVS that cost Rs.800,000, meeting the difference in cash Show the motorcars account, depreciation expense account, provision for depreciation on motorcars and disposal of assets account, in her ledger, balanced each year on 30 September, till 30 September 2012 B) Why financial statements are prepared? Answer your question in light of agency theory of finance? How many methods of Depreciation are there and in which situation which method is selected? Question No. 2: The following Trial Balance was extracted for the books of Platinum Ltd, at 31 December, 2005 Share capital, authorized and issued Rs. Rs. 16,000 Shares of Rs. 10 each 160,000 Freehold premises at cost 101.000 Plant and machinery at cost 40.000 Stock in trade at 1 January 2005 51,352 Balance at bank 4.289 Provision for Dep. plant and machinery 1 January 2005 20,000 Bad dcbts written off Provision for doubtful debts at 1 January 2005 390 Directors remuneration 14,000 Debtors and creditors 17,492 13,298 Profit and loss account balance at 1 January 2005 12.44 Purchase & Sales 142,998 194,542 General expenses 6.242 Wages 19.285 Rent and rates 3.200 Rs 400,678 Rs.400,678 You are given the following additional information #) The provision for doubtful dels is to be increased to Rs 500 b) Stock in trade at 31 December 2005 was Rs. 56,778 c) Wages outstanding at 31 December 2005 amounted to Rs. 482 d) Provision for depreciation of plant and machinery is to be made at the rate of 10% pa on cost c) Rent and rates amounting to Rs. 350 were paid in advance at 31 December 2005 The directors propose to pay a dividend of 5% on the issued capital and to transfer Rs. 60,000 to General Reserve. Question No. 1: A) Nauman Afzal bought three motorcars during 2010 as follows Car XYZ, on 1 January for Rs.500,000 Car SDA, on 1 April for Rs.600,000 Car CVS, on 1 July for Rs.480,000 She closes her books on 30 September each year and provides 20% p.a depreciation on book value on all motorcars. On 1 October 2011 he sold car XYZ for Rs. 300,000. On 1 January 2012 she traded in car SDA, at Rs. 390000 for another car CVS that cost Rs.800,000, meeting the difference in cash Show the motorcars account, depreciation expense account, provision for depreciation on motorcars and disposal of assets account, in her ledger, balanced each year on 30 September, till 30 September 2012 B) Why financial statements are prepared? Answer your question in light of agency theory of finance? How many methods of Depreciation are there and in which situation which method is selected