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Part $2(35$ marks; $53$ minutes$)$Everest is a sole trader that has a $31$ December $2016$ financial year end. Thebusinesssells a range of camping gear to a large customer base. Per inspection of theamounted to Bs$3700$to DeCember $2$O$15,$ the oWner's equity balanceThe profit for the period for the year ended $31$ December $2016$ amounted toaccountant as at $31$ December $2016$:BankVehiclesIoventoryAccount NameEquipmenLong term loanNr$1.$g orhavon is relevant tor the preparation of the financial statements$2.$Accounts receivablea$)$taking into account the following adjustments:nd trialf$)$fromnYou are reguired to:DRthis transaction.RandriodQuestiontrial bal$348$O$01970001056005678001234$O$0$Mr Everest. the owner oOk campig,gear with a cost oT R S$00$as aa giftb$)$ A new point of sales system was installed on $30$ June $2016$ for an amountof R$1$s $600$ cash. The system is expected to operate over a period of $8$c$)$ included in the profit figure is an amount of R$6$O o$00$ for water andthat was prepared by theelectricity for months Jauary $2016$ to November $2016.$ The invoice forDe$$emper oT was notCapturea asnG payment In relaton tothe invoice$2016$ invoice amounted to R$4500.$ Payment of the R$4500$ was made inearly January $2017.$CRRandwere however calculated befored$)$madeProrithe owner durina the erngnto aGCOunt cash drawingse$)$ Included in the profit figure is an amount of R$12500$ for advertising inrelation to the maintenance oT the businesss website. The amount of R$12$period of service wOuld extend $8$ months from the date of payment$\mathrm{.}56000$g$)$ Everest operates an annual $10$ Km run from which they collect a fee fromthe various participants. The run is scheduled for $01$ February $2017.$ Anamount of R$45000$ has been collected from participants who would like tobe include in the run. No record of the R$45000$ has been made in therecords.the Statement of Changes in Equity for the yearended $31$ December $2016.$Prepare the Statement of Financial Position as at $31$December $2016.$Marks$19$ marks$16$ marksA donation of camping gear was given to a school in sponsorship of theirgoods had a seling price of R$22$ o$00.$ No record has been made regarding

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