ACTIVITY $1$

You are provided with the Pre$-$Adjustment trial balance of Jozi Tiles, a partnership with Mogashoa and Mokotedi as partners.

REQUIRED

Prepare the Income Statement

Notes to the Financial statements $($refer to the work sheet$)$ INFORMATION

$\backslash$table$[[\{$

$\backslash$table$[[$JOZI TILES$],[$PRE$-$ADJUSTMENT TRIAL BALANCE ON $28$ FEBRUARY $2021],[$BALANCE SHEET ACCOUNTS SECTION$]]\}],[],[$Capital :Mogashoa,B$1,,600000],[$Capital : Mokotedi,B$2,,400000],[$Current $\frac{A}{c}$ : Mogashoa,B$3,41000,],[$Current $\frac{A}{c}$ : Mokotedi,B$4,,50000],[$Drawings : Mogashoa,B$5,185000,],[$Drawings : Mokotedi,B$6,175000,],[$Vehicles$,$B$7,666000,],[$Equipment $($at cost$),$B$8,230000,],[$Accumulated depreciation on vehicles,B$9,,299700],[$Accumulated depreciation on equipment,B$10,,95000],[$Loan : Bank of Africa,B$11,,205000],[$Fixed Deposit : Bank of Africa,B$12,150000,],[$Trading stock,B$13,667000,],[$Debtors control,B$14,265000,],[$Provision for bad debts,B$15,,16500],[$Bank$,$B$16,66000,],[$Creditors control,B$19,,281500],[$SARS $-($PAYE$),$B$20,,19600],[$Medical Aid Fund,B$21,,6200],[$UIF$,$B$22,,900],[$NOMINAL ACCOUNTS SECTION$],[\backslash$table$[[$Sales$]],$N$1,,3000000],[$Debtors allowances,N$2,500000,],[$Cost of sales,N$3,1810000,],[$Fee income $($for services rendered$),$N$4,,1105000],[$Rent expense,N$5,95400,],[$Salaries and wages,N$6,765176,],[$Employer$\text{'}$s contribution to UIF and Medical Aid,N$7,78500,],[$Vehicles expenses,N$8,95000,],[$Bank charges,N$9,28600,],[$Bad debts,N$10,4800,],[$Electricity and water,N$11,17600,],[$Discount allowed,N$12,3500,],[$Telephone$,N13,19100,],[\backslash$table$[[$Insurance$],[$Printing and statiopeay$]],$N$14,28800,],[$Printing and stationery,N$15,17200,],[$Consumable stores,N$16,132500,],[$Interest income $($on current bank account$),$N$17,,1100],[$Sundry expenses,N$18,34824,]]$

$83$