- A cafe3582_2012_11_sup.pdf - Adobe Acrobat Reader DC (32-bit) File Edit View Sign Window Help Home Tools CAFE3582_11_sup_... CAFE3582_11_nor_... cafe3582_2012_11... X Sign In 3 / 4 75% Y = at A Search "Merge PDF 9 000 Export PDF Edit PDF The following balances appeared in the books of Tangelo Traders at 31 March 2012 N$ Accumulated depreciation: Equipment Vehicles 13 000 Advertisements 2 100 Bank (unfavourable) 12 000 Bookkeeping fees 4 400 Capital 210 000 Creditors 55 000 Debtors 46 000 Drawings 21 000 Equipment at cost price 90 000 Insurance 3 000 Inventory (1/4/2011) 60 000 Loan: Standard Bank 75 000 Provision for doubtful debts 2 000 Purchases 102 000 Rent income 4 400 Salaries and wages 25 000 Sales 217 000 Stationery 500 Telephone 17 800 Vehicles at cost price 130 000 Water and electricity 290 Lo Create PDF V Comment Combine Files El Organize Pages ^ Delete, insert, extract and rotate pages. Try now Additional information The following adjustments should be taken into account: 1 The owner withdrew goods for his own use of N$2 000 2 The provision for doubtful debts should be adjusted to 5% of book debts. 3 The long-term loan was obtained from Standard Bank on 1 September 2011 at an interest rate of 14% per annum. No provision in respect of interest has yet been made. 4 The rent for March is still outstanding and bookkeeping fees is N$400 per month 5 The telephone and water and electricity accounts for March 2012 of N$540 and N$200 respectively have not been paid. 6 Depreciation on vehicles should be provided at 20% per annum on the reducing balance method. A new vehicle was purchased on 1 September 2011 for N$60 000. 7 Provide for depreciation on equipment at 10% per annum on the straight-line method, 8 A physical stock-taking on 31 March 2012 showed the following inventory on hand: Inventory N$72 000 Stationery N$200 Required Prepare an income statement for the year ended 31 March 2012 Convert, edit and e-sign PDF forms & agreements Start Free Trial