A new company was established in 1st of April 2008. Following transaction has taken a place

1- A capital of 1000000 was deposited in the bank
2- During April the company rented an office for 100000 per year all the rent was paid in advance
3- During April the company purchases furniture for 50000 and cars for 200000 (depreciation for cars 20% and for furniture 10%)
4- In the 1st of May the company rented a Ware House for 75000 per year they pay only 35000
5- The company obtained a loan from the bank in 1st June 2008 for 725000 with annual interest of 5%
6- The company paid 700000 as salaries for companies staff for the period from 1st April up to 30 November 2008
7- The company purchase goods for the period from April 2008 to December 2008 for a value of 620000 in cash and 2880000 in credit
8- Total credit sale for the period form April up to 31 of December is 3250000
9- Cash sale During the period form April up to 31 of December is 750000
10- The company paid back 300000 as part of the loan in 30 of November 2008

The following information being given to you:

1* The company started operation in April 2008.
2* Inventory value at the end of the year is 1.500.000
3* 100,000 salaries for December 2008 were not paid.
4* A Bank statement received from the Bank shows that the balance is 22,000.
5* After analyzing Bank Statement following were found.
A. One of the customers deposited 5,000 in the Company's Bank.
B. The bank charged the company with 18125 as interest
C. A Check of 2,000 was not deposited in the Company's Bank
Account.
D. An amount of 1000 in cash was not deposited in the Company's
Bank Account.
6* The company decided to make a provision of bad debt equal to 1%
of receivable balance.
7* The company has to pay 20% taxes on the net profit.
8* From April 2008 to December 2008 the company paid to one of the
partner 100.000 as a salary. This amount is not considered as an
expense for a tax purposes, provision for bad debt is not considered
as deduct able tax expense too
Required

1- Record all transaction
2- Open the necessary ledger accounts
3- Prepare bank reconciliation
4- Do all adjusted entries required to close all accounts including prepaid expenses (rent) -accrual expenses (rent, salary &interest) -depreciation (cars & furniture) -provisions for bad debt - interest paid
5- Prepare Final Trial Balance as in 31/12/2008
6- Prepare profit and loss account. As in 31/12/2008.
7- Prepare Balance Sheet as in 31/12/2008.
8- Show the taxable profit. And Tax due