July $2023.$ The notes to the financial statements are not required.

INFORMATION

Adjustments and additional information

The profit after tax for the year ended $31$ July $2023$ amounted to R$392100.$ The following adjustments were

made to the income and expenses but not to the balance sheet accounts:

A physical stocktake on $31$ July $2023$ revealed the following:

$1\mathrm{.}1$ Trading inventory on hand amounted to R$1050000.$

$1\mathrm{.}2$ Stationery unused amounted to R$2000.$

Rent for August $2023$ was received and recorded on $31$ July $2023,$ R$14000.$

Dividends of $70$ cents per share are due from ABC Limited.

Commission on sales of R$30000$ is owed to the salespersons.

Equipment, cost price R$120000,$ was purchased on credit on $01$ July $2023$ but no entry has been made

for this. Depreciation on equipment is calculated at $15\%$ p$.$a$.$ on cost and on vehicles at $20\%$ p$.$a$.$ on the

diminishing balance.

The bank statement was received after the trial balance was prepared and it reflected bank charges of

R$1800.$

The provision for bad debts must be adjusted to $5\%$ of debtors.