A$.$ A credit note for R$35700$ issued to a debtor, dated $27$ June $2020,$ was not recorded. The cost price of these goods was R$21000.$ The goods were placed back into stock.

B$.$ The business prices its goods at a mark$-$up of $70\%$ on cost$.$ Trade discount of R$297200$ was allowed on invoices to certain customers.

C$.$ Adjust the provision for bad debts of debtors to $4\%.$

D$.$ Stock counts on $30$ June $2020$ revealed the following on hand:

Trading stock, R$225500$

Packing material, R$3700$

E$.$ External auditors are owed a further R$7250.$

F$.$ Interest on the loan is capitalised and has not been recorded yet. The loan statement from Parys Bank on $30$ June $2020$ reflected a closing balance of R$372920.$

G$.$ The bookkeeper completed the following page in the Fixed Assets Register, using the incorrect method of depreciation.

$\backslash$table$[[\backslash$table$[[$SUNCREST$],[$COMPUTER$]],$COST,DEPRECIATION,$\backslash$table$[[$BOOK$],[$VALUE$]],],[1$ July $2018,$R$42000,,$R$42000,],[30$ June $2019,,$R$8400,$R$33600,],[31$ March $2020,,$R$6300,$R$27300,],[],[\backslash$table$[[$Insurance pay$-$out$],[$Loss of computer due$],[$theft$]],$R$18000300,,,]]$

Depreciation on this asset should have been calculated at $20\%$ p$.$a$.$ on the diminishing balance method.

H$.$ The monthly rent did not change during the year. During April $2020$ the tenant paid R$6000$ for repairs to the premises. He deducted this from his rent for May $2020,$ as repairs are the responsibility of the company. The repairs were not recorded. The rent for July $2020$ was received and deposited during June $2020$

JENN TRAINING AND CONSULTANCY

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