QUESTION 4 44 MARKS Mr Jacky has not kept proper bookkeeping records, but he has kept notes in diary form of the transactions of his business as at 31 May 2021. The following transactions relate to financial year ended on 31 May 2021. a) The sales are mostly on a credit basis. No record of sales has been made, but N$ 14 200 has been received, N$ 9 700 by cheque and N$ 4 500 by cash, from debtors. b) Amount paid by cheque to suppliers during the year amounted to NS 5 500. c) Mr Jacky took NS 2 600 cash for the year for personal use. d) The following payments was made for the year by cheque, Telephone Expense N$ 1 250, Transport Expense NS 840, Rent Expense N$ 2 200 and by cash. General Expense N$ 250 and Municipal Expense N$ 450. e) Assets was acquired on 31 March 2020 as: Motor Vehicles NS 24 600 and Furniture and Fittings N$ 18 400. Depreciation of 10% straight line for 31 May 2021. f) The following information is available: At 31.05.2020 At 31.05.2021 NS NS Inventory 1 540 2 100 Cash balance 400 1 600 Bank balance 3 200 3 110 Debtors 12 580 22 970 Creditors 8 630 16 680 Rent Owing 800 Loan 2 090 2 090 Required: a) Calculate capital balance as at 31 May 2020 by preparing statement of affairs. b) Calculate missing figures necessary to prepare financial statement. c) Prepare statement of comprehensive income and statement of financial position