BSG Solutions pre$-$adjusted trial balance as at $31$ December $2023$

Dr

R

Cr

R

Capital $668635$

Retained earnings $545585$

Bank loan $(12\%)339840$

Furniture and equipment, at cost $308161$

Motor vehicles, at cost $531000$

Investment: Fixed deposit account $178416$

Inventory $(1$ January $2023)410640$

Trade receivables $286457$

Prepaid insurance $163123$

Stationary on hand $53666$

Cash at bank $316448$

Trade payables $264226$

Sales $1399008$

Fees income $337008$

Interest income $8921$

Purchases $613128$

Sales returns $60888$

Drawings $96337$

Carriage outwards $($delivery costs$)21948$

Rent, water and electricity expenses $210701$

Salaries and wages $178699$

Advertising $30302$

Telephone expenses $81420$

Interest expense $40781$

$4$ HFAC$130-1-$JanJun$2024-$FA$1-$GC$-$V$\mathrm{.}2-07022024$

Additional Information;

All the appropriate reversal entries were processed correctly on $1$ January $2023.$

$1.$ The bookkeeper has not recorded the following items relating to the financial year

ended $31$ December $2023.$

$$ Stationary on hand on $31$ December $2023$ amounted to R $10478$ at cost$.$

$$ A telephone bill for R $5664$ relating to the month of December $2023$ was

received on $4$ January $2024,$ and no entries had been made for it$.$

$$ A sales invoice for R $28320$ relating to computer accessories costing

R $14160$ sold to Karoo Traders on $31$ December $2023$ had not been

recorded.

$$ The prepaid insurance of R$163123($see the pre$-$adjustment trial balance$)$

includes an amount of R$101952$ paid on $31$ August $2023,$ covering the year

from $1$ September $2023$ to $31$ August $2024.$

$$ The fixed deposit investment was made on $1$ May $2023$ and earns interest

at $10\%$ per annum. The interest on this investment is received quarterly in

arrears $($on $1$ August, $1$ November, $1$ February and $1$ May$)$

$$ The fees income of R $337008($refer to trial balance$)$ includes an amount of

R$32568($received in December $2023),$ which relates to computer training

provided in January $2024.$

$2.$ The physical count concluded on $31$ December $2023$ revealed that inventory on

hand had a cost of R $5014-40$ and a net realizable value $($NRV$)$ of R$494360.$

Prepare the statement of comprehensive income for BSC solution for the ended Decemeber $2023$