2 (25 marks) Kempton CC has a head office in Thembisa and a branch in Rustenburg. Inventory is transferred to the branch at cost. The following information was taken from the books of Kempton CC: Balances at 1 April 20.22: Branch inventories (at cost) Branch receivables Branch bank account (Dr) Transactions for April 20.22: Inventory sent to branch Inventory returned to head office R 12 600 5 420 3 640 25 800 480 Cash transferred from branch to head office Transactions by head office on behalf of branch: Salaries paid to branch personnel Transactions by branch: 34 780 1.500 Cash sales deposited Credit sales 5 040 32 480 120 Inventory returned by branch Receivable Payments by Receivables deposited in branch bank account Discount allowed to Receivables NOT deducted at sales 34 020 Credit losses written off Rental paid per cheque Wages paid by cheque General expenses paid by cheque Balances at 30 April 20.22: Branch inventories Branch Receivables Branch bank account 300 60 440 160 140 9 600 ? ? Ignore all forms of taxes QUESTION 2: REQUIRED Marks Prepare the following partnership accounts as at 31 March 20.22. Prepare the following accounts that ended at 31 March 20.22 (with close consideration to Branch Accounting) 2.1 Branch inventory 2.2 Inventory to branch 2.3 Branch receivables 2.4 Branch bank account 3 8 TOTAL MARKS 25 Answers are to comply with relevant International Financial Reporting Standards (IFRS's). Show all calculations clearly