1. Calculate the total finance cost on the long-term loan for the year ended 30 June 20.19 that must be reflected in the statement of profit or loss and other comprehensive income of Delta Ltd. Clearly indicate any nil amount with a "0" 2. Prepare the general journal entry for the finance cost on the long-term loan for the year ended 30 June 20.19 taking the information already provided in the trial balance into account Round all amounts to the nearest Rand. Part 1 of the required: Rand 1 July 20.18 - 31 July 20.18 Calculation: Capital outstanding x interest rate 12 Not required number of months 1 Aug 20.18 - June 20.19 Calculation: Capital outstanding number of months x interest rate 12 Not required Notremmed Tatal finance cost INto Dobit Rand Credit Rand 840 000 78 750 220 605 210 000 NA 682 500 131250 38 850 5 157.500 52 500 16 50 400 202 125 45 675 Ordinary share capital (600 000 shares) 30% Redeemable preference shares Retained earnings 12% Long term loan Land and buildings Plant and equipmenti at cost accumulated depreciation (1) July 20.18) Delivery vehicles. at cost accumulated depreciation (see note 5) SARS - Provisional tax payments Inventories Accounts receivable Allowance for credit losses Accounts payable Bank Sales Cost of sales Rent received Salaries and wages for administratida personnel Dividends on ordinary shares Dividends Finance dost on prfende args (see guestion 20 Interest or long-terma dan Directors emoluments Loss from sale of deliver tidla Administration expensat Distribution expenses Depreciation on deliverable 2 205 30 345 584. 150 1 182 825 301420 2 415 194460 29 050 88 & 5 250 M3 125 MEL S 150 UBRO CUIR A495 Agoldonar information: Delta Ltd presents its statement of profit or loss and other comprehensive income following the single-statement approach and classifies expenses according to their function. Three functions have been identified namely administration, distribution and other expenses. 1. The authorised ordinary share capital consists of 1 400 000 ordinary shares. On 1 September 2018, 350 000 shares were issued at 63 cent per share. It was correctly recorded in the records. 2. The authorised 10% redeemable preference shares consist of 200 000 shares. These shares are redeemable at the option of the holder. Payment of dividends are mandatory. The effective interest rate is the same as the nominal interest rate. Ignore all dividends tax on the preference shares. 3. On 31 July 20.16 the company negotiated a long-term loan The loan bears interest at 12% per annum and is repayable in 10 annual instalments beginning on 1 August 20.17. The land and buildings serve as security for the loan. The instalments were paid according to the agreement and were recorded in the records. The outstanding interest must still be provided. 4. The plant and equipment were acquired during 20. 13. New equipment costing R68 250 was purchased on 1 December 20.18 and correctly recorded in the accounting records. Depreciation is provided at 10% p.a. on the diminishing-balance method with an estimated residual value of Roil Depreciation on plans and equipment must still be recognised for the year. Depreciation of plant and equipment is allocated to cost of sales 5. A delivery vehicle costing R99 750 residual value of Re000 was disposed of on September 2018. The accumulated depreciation on July 20, 18 on this delivery vehicle amounted to R31 500 The sales transaction was properly recorded in the records Delivery vehicles is deprecated in the straight-e method over an estimated useful life of five years. The residual value o meaning delivery vehicles is R26 250 Depreciation must be provided for the yem on we remaining delivery vehicles. Depreciation on delivery varicias allocated to distrution expenses 6. The accountant emated the game TNS am nas to be 8. Dividends tax is levied at 20% of the dividend to be distributed to the shareholders. No entries on the dividends' tax for ordinary share has been made. Ignore all dividends' tax on the preference shares. 9. The directors' remuneration for non-executives amounting to R27 615 was on behalf of: Mr S Mkoena. The director's remunerations and salaries are allocated to administration costs