30 Assignment 4 financial accounting || [Compatibility Mode] - Word (Product Activation Failed) Mailings Review View Tell me what you want to do... File Home Insert Design Layout References Arial 12 - Aa- a Cut e Copy Format Painter AaBbCcDc AalbCcDc Aabba AaBbcc AaB AalbCoC AQBBCCD AQBBCODE I Normal I No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Emphasis 2 Share Find - abc Replace Select- Editing Paste BI Uabe x, X A, aby-A 13, Clipboard Font Paragraph Styles QUESTION 1 Jenny jones operates a successful business, Ashinala LTD which provides office furniture to growing number of clients. The trial balance of Ashipala LTD 31st December 2017, the end of current financial year, and the information needed to determine year end adjustment are presented below. The following trial balance at 31st December 2017 Ashipala LTD, provides office furniture. N$ N$ 2,000,000 Ordinary share capital 5% preference share capital Retaining earning Share premium 170,000 700,000 124,000 General reserves 60,000 740,000 200,000 Fixture and fittings Fixture and fittings Accumulated depreciation Delivery vans: cost Delivery van accumulated depreciation 1,080,000 200,000 Page 1 of 5 735 words DE 87% Type here to search o . 11:40 AM 5/28/2020 99+ 30 Assignment 4 financial accounting || [Compatibility Mode] - Word (Product Activation Failed) Mailings Review View Tell me what you want to do.... File Home Insert Design Layout References Arial 12 - Aa- A Cut e Copy Format Painter AaBbCcDc AalbCcDc Aabba AaBbcc AaB AalbCoC AQBBCCD AQBBCODE I Normal I No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Emphasis 2 Share Find - abac Replace Select Editing Paste BI Uabe x, X A, aby-A TE Clipboard Font Paragraph Styles 639,000 Inventory Purchases on Sales Income 11,043,000 14,369,000 550,000 140,000 96,000 234,000 Rent and Rates Expenses Advertising expenses Lighting and heating Motor Expenses Telephone and cell phone Expenses Salaries and Wages Expenses Directors fees Expenses Accounts receivable and payable Bank 93,000 1,400,000 600,000 1,121,000 835.000 748,000 18.571.000 18.571.000 The following additional information is relevant: 1. The cost of the closing inventory was N$ 943,000 2. Rates paid in advance amount to N$ 75,000 3. Telephone and Cell phone expenses due and not yet paid amount to N$ 13,000 4. Depreciation of the year to be provided as follows: Delivery vans as N$ 120,000 and fixture and fittings N$ 60,000. 5. Current income tax must be accounted for at 30%. 6. An ordinary dividend of 5 cents per share is declared and preference dividend must be paid. Page 2 of 5 735 words DE 87% Type here to search Ei 11:40 AM 5/28/2020 99+ & Share File Home Insert Design Layout References Cover Page SmartArt Blank Page il Chart Table Pictures Online Shapes Page Break Pictures Screenshot Pages Tables Illustrations Assignment 4 financial accounting || [Compatibility Mode] - Word (Product Activation Failed) Mailings Review View Tell me what you want to do... Hyperlink Header W Store Bookmark Footer My Add-ins - Wikipedia Online Comment Text Video D. Cross-reference Page Number Box Add-ins Media Links Comments Header & Footer 18.571.000 18.571.000 E Quick Parts - Signature Line- A WordArt En Date & Time A Drop Cap Object Text TT Equation - 2 Symbol Symbols The following additional information is relevant: 1. The cost of the closing inventory was N$ 943,000 2. Rates paid in advance amount to N$ 75,000 3. Telephone and Cell phone expenses due and not yet paid amount to N$ 13,000 4. Depreciation of the year to be provided as follows: Delivery vans as N$ 120,000 and fixture and fittings N$ 60,000. 5. Current income tax must be accounted for at 30%. 6. An ordinary dividend of 5 cents per share is declared and preference dividend must be paid You are required to prepare: a) A statement of comprehensive income for the year ended 31st December 2017 [15 Marks] b) A statement of change in equity for the year ended 31st December 2017 [10 Marks] C) A statement of financial position as at 31 December 2017 [15 Marks) [Total Marks 40] Page 2 of 5 735 words DE 87% Type here to search j e 11:40 AM 5/28/2020 99+