1. During the year, TBTI paid parking rental fees via automatic e-transfer from the bank account. The payroll clerk had set up the automatic e-transfer via online banking in early 2020. There were 12 instalments made in the amount of $250 each. The December bank reconciliation reflects the total payment made as a reconciling item on the book side. Bank reconciliations are prepared by Estelle on an annual basis. 2. In the prior year TBTI had paid the entire year's insurance policy upfront which expired as of December 31, 2020. The insurance premium for 2021 is $5,600. TBTI renewed and paid half the 2021 insurance premium on December 21, 2020. 3. The information below relates to capital assets. Ensure you consider item#4 below regarding repairs and maintenance before preparing any capital asset calculations. Date of purchase Depreciation method January 1, 2017 Double declining Special notes Machinery Estimated useful life 10 years Bakery fixtures January 1, 2018 Straight line As of January 1, 2020 Eistelle Estimated useful life 8 years believes the Bakery fixtures have a remaining useful life of 5 ycars Computer Equipment May 1, 2020 Double declining Estimated useful life 5 years 4. The breakdown for repairs and maintenance expense per the trial balance is as follows: (you need to consider if all these items should in fact be classified as repairs and maintenance) Machinery - new part (increases efficiency of machinery) - Jan 1, 2020 S5,900 Cleaning of kitchen equipment - June 12, 2020 Annual pesticide control Dishwasher draining problem - part time labour to fix - July 3, 2020 Anti-rust spray for machinery March 15, 2020 Large refrigerator purchased - Jan 1, 2020 Total S660 S2,000 $320 $490 9,000 S18,370 5. Inventory is valued using weighted average and a periodic inventory system is maintained. Estelle has already applied weighted average to food inventory after doing a physical count on December 31, 2020 before closing for New Year's Eve. Estelle records inventory at net realizable value on an item-by-item basis for financial reporting. Food inventery Cost Net realizable value Raw ingredients- wet Raw ingredients - dry Finishod goods - refrigerated and $3,200 $3,200 non-refrigerated desserts ready for sale $45,000 $43,000 $72,000 S68,000 Total 120,200 114,200 6. The following information regarding payroll needs to be considered in preparing year-end financial statements (ignore payroll taxes): Employee Pay rate Estelle Bisset Annual 108,000 15" of the month (for prior month) Pay frequency 7. In November 2020 TBTI was approached about catering a 35* birthday. TBTI would prepare individual boxes of French desserts for the host to pick up and deliver to attendees' homes in advance of the Zoom 35 birthday party on May 5, 2021. A formal agreement was signed on November 31, 2020 with a $1,000 deposit paid. The full amount paid was credited to Revenue on November 31, 2020.