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Additional Information 2 040 000 2 040 000 The following transactions have not been accounted for in the above pre-adjusted trial balance: (a) On 1
Additional Information 2 040 000 2 040 000 The following transactions have not been accounted for in the above pre-adjusted trial balance: (a) On 1 November 2021 Daricraft rent out a part of their premises to PQ traders for 12 months. A payment for R24 000 was received on that date for the full 12 month's r (b) An amount of R3 500 of the insurance expenses was prepaid for the next financial year. (c) The allowance for credit losses still needs be adjusted to 20% of outstanding debtors in accordance with the company's policy. (d) The advertising expense includes a payment of R2 400 made to the Destiny Magazine for advertisements to be published from June 2022. (e) Salaries earned by employees but not yet paid as of 31 March 2022 amounts to R800. (f) Interest on the long-term loan is payable every 6 months in arrears. The loan was negotiated on 1 June 2021. No repayments of the capital amount were made duri financial year. (g) Furniture and equipment should be depreciated at 10% per annum using the straight-line method. The opening inventory on 1 April 2021 was R100.000. REQUIRED 1.1 Using the information given above, prepare the necessary year-end adjusting journals for Daricraft Traders.. When completing the template below ensure that numbers are written without the R symbol and using correct notation for example R 100000 is filled in as 100 000. Additional Information 2 040 000 2 040 000 The following transactions have not been accounted for in the above pre-adjusted trial balance: (a) On 1 November 2021 Daricraft rent out a part of their premises to PQ traders for 12 months. A payment for R24 000 was received on that date for the full 12 month's r (b) An amount of R3 500 of the insurance expenses was prepaid for the next financial year. (c) The allowance for credit losses still needs be adjusted to 20% of outstanding debtors in accordance with the company's policy. (d) The advertising expense includes a payment of R2 400 made to the Destiny Magazine for advertisements to be published from June 2022. (e) Salaries earned by employees but not yet paid as of 31 March 2022 amounts to R800. (f) Interest on the long-term loan is payable every 6 months in arrears. The loan was negotiated on 1 June 2021. No repayments of the capital amount were made duri financial year. (g) Furniture and equipment should be depreciated at 10% per annum using the straight-line method. The opening inventory on 1 April 2021 was R100.000. REQUIRED 1.1 Using the information given above, prepare the necessary year-end adjusting journals for Daricraft Traders.. When completing the template below ensure that numbers are written without the R symbol and using correct notation for example R 100000 is filled in as 100 000
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