The fillowing aidditional information was made available here the year end clising 1. Lavatory as at June amounted to S146,700 after a physical stock count $15.900 was received in June 2120 for goods to be delivered in July 2020. This has been recorded as cash sales for the year endal 30 June 2020 2. 3 Utilities expense consisted of payment made from July 2019 to Felyumry 2020. Monthly utilitics expense is assumed to remain constant during the currcut financial ycar. 4. The bank loan was taken up on 1 January 2020. The outstanding interest on the loan for year has not been accounted for as al year-end. 5. Rent for the last two mainths of the financial year was paid by Jean Fit using her personal finds. The payments have been charged to rent expense and recorded as trade payables, Monthly cut remained constant throughout the current financial year and there was no canding rent to be paidlas al year-end. 7. Insurance expense includes payment of S27,300 for May 2020 to November 2020, In April 2020, a credit customer paid $68,400 in settlement of an outstanding amount after deductiny a 5% discount for for prompt payment. This transaction has been venitted in the records of Mave. It Commission enrned amounting to 59300 wns received in September 2019 was recorded in the correct Icounts at $9.030. 9. The amount of annual depreciation on fixed assets were as follows: Building Equipment $21,460 $13.720 10. $7,600 paid for stallsalaries in June 2020 was crroneously charged to purchases Required: (a) Prepare the necessary general journal entries to record transactions (2) lo (10). Narrations are not required. (Hint: For some transactions, you will need to create new accounts which are not shown on the trial balance.) (40 marks) (b) Prepare the following financial statements for Move It (i) Statement of Comprehensive Income for the year ended 30 June 2020 (in) Stalcacat of Financial Position as at 30 June 2020 (61) marks) Page 5 of 5 The fillowing aidditional information was made available here the year end clising 1. Lavatory as at June amounted to S146,700 after a physical stock count $15.900 was received in June 2120 for goods to be delivered in July 2020. This has been recorded as cash sales for the year endal 30 June 2020 2. 3 Utilities expense consisted of payment made from July 2019 to Felyumry 2020. Monthly utilitics expense is assumed to remain constant during the currcut financial ycar. 4. The bank loan was taken up on 1 January 2020. The outstanding interest on the loan for year has not been accounted for as al year-end. 5. Rent for the last two mainths of the financial year was paid by Jean Fit using her personal finds. The payments have been charged to rent expense and recorded as trade payables, Monthly cut remained constant throughout the current financial year and there was no canding rent to be paidlas al year-end. 7. Insurance expense includes payment of S27,300 for May 2020 to November 2020, In April 2020, a credit customer paid $68,400 in settlement of an outstanding amount after deductiny a 5% discount for for prompt payment. This transaction has been venitted in the records of Mave. It Commission enrned amounting to 59300 wns received in September 2019 was recorded in the correct Icounts at $9.030. 9. The amount of annual depreciation on fixed assets were as follows: Building Equipment $21,460 $13.720 10. $7,600 paid for stallsalaries in June 2020 was crroneously charged to purchases Required: (a) Prepare the necessary general journal entries to record transactions (2) lo (10). Narrations are not required. (Hint: For some transactions, you will need to create new accounts which are not shown on the trial balance.) (40 marks) (b) Prepare the following financial statements for Move It (i) Statement of Comprehensive Income for the year ended 30 June 2020 (in) Stalcacat of Financial Position as at 30 June 2020 (61) marks) Page 5 of 5