QUESTION 4 REQUIRED Use the information provided below to prepare the following: 4.1 Statement of Comprehensive...

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QUESTION 4 REQUIRED Use the information provided below to prepare the following: 4.1 Statement of Comprehensive Income for the year ended 28 February 2022 An extract of the Statement of Financial Position that reflects the Equity and 4.2 Current Liabilities as at 28 February 2022. Purchases Purchases returns Interest expense Interim ordinary dividends paid Ordinary share capital 9% Preference shares (250 000 shares issued at R4 each) Creditors control Inventory (01 March 2021) Retained earnings (01 March 2021) Sales Sales returns Depreciation Other operating expenses Company tax paid 1. 2. 3. INFORMATION The following information was obtained from the accounting records of Ambit Limited for the financial year ended 28 February 2022: AMBIT LIMITED EXTRACT OF THE TRIAL BALANCE AS AT 28 FEBRUARY 2022 Additional information and adjustments (20 Marks) (14 marks) (6 marks) R 5 000 000 50 000 4 000 302 500 5 500 000 1 000 000 200 000 500 000 1 500 000 12 000 000 300 000 260 000 4 300 000 530 000 Inventory on 28 February 2022 was valued at R400 000. The company tax for the year ended 28 February 2022 amounted to R584 080. The ordinary share capital consisted of 1 000 000 shares of which 550 000 have been issued at R10 each. QUESTION 4 REQUIRED Use the information provided below to prepare the following: 4.1 Statement of Comprehensive Income for the year ended 28 February 2022 An extract of the Statement of Financial Position that reflects the Equity and 4.2 Current Liabilities as at 28 February 2022. Purchases Purchases returns Interest expense Interim ordinary dividends paid Ordinary share capital 9% Preference shares (250 000 shares issued at R4 each) Creditors control Inventory (01 March 2021) Retained earnings (01 March 2021) Sales Sales returns Depreciation Other operating expenses Company tax paid 1. 2. 3. INFORMATION The following information was obtained from the accounting records of Ambit Limited for the financial year ended 28 February 2022: AMBIT LIMITED EXTRACT OF THE TRIAL BALANCE AS AT 28 FEBRUARY 2022 Additional information and adjustments (20 Marks) (14 marks) (6 marks) R 5 000 000 50 000 4 000 302 500 5 500 000 1 000 000 200 000 500 000 1 500 000 12 000 000 300 000 260 000 4 300 000 530 000 Inventory on 28 February 2022 was valued at R400 000. The company tax for the year ended 28 February 2022 amounted to R584 080. The ordinary share capital consisted of 1 000 000 shares of which 550 000 have been issued at R10 each.

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1 Statement of Comprehensive Income for the year ended 28 February 2022 AM BIT LIMITED STAT EMENT OF ... View the full answer