Your friend, Anthony, owns a food truck business that serves gourmet food to his customers in the residential suburbs of Singapore. He has prepared his accounts on a worksheet $($see Excel attachment$)$ and has asked for your help.

Task $1$:

Complete the following $($refer to Excel attachment$)$:

i$.$ Insert the additional entries into the unadjusted trial balance.

ii$.$ Make the necessary adjustments to the worksheet.

iii. Complete the adjusted trial balance.

iv$.$ Obtain a balanced adjusted trial balance.

Assignment Task $1$:

i$.$ Insert the following entries below into the "Unadjusted Trial Balance"

$>$ Accounts Payable, $$8,150(1$ mark$)$

$>$ Cash at Bank, $$4,700(1$ mark$)$

$>$ Corporate Debtors, $$12,800(1$ mark$)$

$>$ Paid Up Capital, $$35,000(1$ mark$)$

$>$ Petrol Expenses, $$5,000(1$ mark$)$

$>$ Retained Earnings, $$24,900(1$ mark$)$

$>$ Total Debit, $$203,150(1$ mark$)$

$>$ Total Credit, $$203,150(1$ mark$)$

ii Make the following ajustments to the worksheet

$>$ Total corporate debtors settle $15\%$ of their debts in cash as of $31$st December $2023.$

$>$ As of $31$st December, $4\%$ of ingredients needs to be discarded due to poor food handling.

$>$ Depreciation expenses for the year ending $31$ December $2023$ for the truck is $$8,765.$

$>$ Depreciation expenses for the year ending $31$ December $2023$ for the equipment & fittings is $$920.$

$>$ A secondhand blender equipment was purchase on $1$ October $2023$ for $$300.$

Depreciation is set at $$100$ for $3$ years with a scrap value of $$0.$

iii Complete the adjusted trial balance $(1$ mark each$)$

iv Obtain a balanced adjusted trial balance

Assignment Task $2$:

i$.$ Complete and balance the "Income Statement" worksheet table.

ii Complete and balance the "Balance Sheet" worksheet table.

Assignment Task $3$:

Discuss the financial health and performance of Anthony$$s Gourmet Food Truck for the financial year ending $31$st December $2023.$ Use accounting ratios and$/$or industrial examples to support your findings.