(a)[14]
Prepare the statement of profit or loss for the year ended 31 December 2024. Use the answer space on page 4 to set out your workings.
(b)[7]
Prepare an extract from the statement of financial position at 31 December 2024, showing only the assets section.
(c(i))[2]
Explain, with reference to an accounting concept, why Bilal keeps an allowance for irrecoverable debts.
(c(ii))[2]
Explain, with reference to an accounting concept, why Bilal always applies the same depreciation method to each class of non-current asset.
(d)[5]
Advise Bilal on which option he ought to choose. Support your decision by comparing both options.