These balances and totals are taken from the ledger of SA Moosa on 28 February 20x5:

Additional information:

1. Inventory on 28 February 20x5, R42 029.

2. Rates and taxes are for the year ended 30 June 20x5.

3. Write off a receivable to the value of R965 as irrecoverable.

4. Provide depreciation as follows:

5. Insurance includes a premium of R480 for the six months ended 30 June 20x5.

6. Adjust the allowance for bad debts to 5% of receivables.

7. One week’s wages for R1 964 is outstanding.

8. Rent income is in arrears for one month.

You are required to:

Prepare a statement of profit or loss & other comprehensive income, including the trading section, for the year ended 28 February 20x5.

Transcribed Image Text:

Purchases Railage on sales Rates and taxes Salaries and wages Rent income Sales Telephone Stationery Office cleaning expense Railage on purchases Returns inwards Accounts payable Furniture at cost Allowance for bad debts Returns outwards Accumulated depreciation: Furniture Accumulated depreciation: Plant Repairs Insurance Sales expenses Bad debts Accounts receivable Drawings Plant at cost Inventory (1 March 20x4) 364 975 00 5 642 00 4 320 00 67 420 00 13 200 00 564 369 00 3 622 00 2913 00 4 360 00 3 696 00 5 729 00 16 733 00 24 364 00 3 600 00 2984 00 1 464 00 13 000 00 995 00 1 985 00 1 800 00 1 365 00 99 259 00 14 360 00 73 000 00 ……….……….. 36 982 00