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Financial Reporting and Analysis closing inventons Adjustments and additional information 1. Inventory on hand 28 February 20.15 amounted to R91000. FIFO method and at net realisable value, whichever is the lower. 2. Consumable stores according to stocktaking on 28 February 20.15 amounted to R900 3. Advertising included a payment of R1080 for advertisements to appear in a local newspaper from of November 20.14 to 30 April 20.15. 4. Depreciation is provided annually on equipment at 10% p.a. using the diminishing balance method 5. The loan from Zen bank is an unsecured loan that was granted to Madida Traders on 01 February 20.14. Provide for the outstanding interest on loan. The loan is repayable in 10 equal instalments. The first instalment is payable on 31 March 20.15. 6. The investment at Ben Bank was made on 01 June 20.14. Provide for the outstanding interest on the fixed deposit. The fixed deposit matures on 01 June 20.15. 7. The tenant has already paid the rent for March 20.15. Note that the monthly rental of R6 000 was increased by 10% with effect from 01 December 20.14. 8. A debit order for R500 for the insurance of the proprietor's home was erroneously entered in the insurar, account. 9. A debtor who owed R800 has been declared insolvent. His estate paid a first and final dividend of 70 cents in the Rand. The balance of his account must be written off. No entries have been made for thes transactions. 10. A debtor's account with a credit balance of R200 must be transferred to her account in the creditors' ledger. Nodida Trabers Financial Reporting and Analysis closing inventons Adjustments and additional information 1. Inventory on hand 28 February 20.15 amounted to R91000. FIFO method and at net realisable value, whichever is the lower. 2. Consumable stores according to stocktaking on 28 February 20.15 amounted to R900 3. Advertising included a payment of R1080 for advertisements to appear in a local newspaper from of November 20.14 to 30 April 20.15. 4. Depreciation is provided annually on equipment at 10% p.a. using the diminishing balance method 5. The loan from Zen bank is an unsecured loan that was granted to Madida Traders on 01 February 20.14. Provide for the outstanding interest on loan. The loan is repayable in 10 equal instalments. The first instalment is payable on 31 March 20.15. 6. The investment at Ben Bank was made on 01 June 20.14. Provide for the outstanding interest on the fixed deposit. The fixed deposit matures on 01 June 20.15. 7. The tenant has already paid the rent for March 20.15. Note that the monthly rental of R6 000 was increased by 10% with effect from 01 December 20.14. 8. A debit order for R500 for the insurance of the proprietor's home was erroneously entered in the insurar, account. 9. A debtor who owed R800 has been declared insolvent. His estate paid a first and final dividend of 70 cents in the Rand. The balance of his account must be written off. No entries have been made for thes transactions. 10. A debtor's account with a credit balance of R200 must be transferred to her account in the creditors' ledger. Nodida Trabers