Additional information and adjustments

The bookkeeper did not record the following debit entries that appeared on the February $2024$

bank statement:

$1\mathrm{.}1$ Bank charges $,$ R$1400$

$1\mathrm{.}2$ Interest on overdraft

R$200$

The financial year$-$end inventory count revealed the following inventories:

$2\mathrm{.}1$ Trading inventory

R$240000$

$2\mathrm{.}2$ Stationery

R$1000$

Vehicles are to be depreciated at $R150000$ per year.

Depreciation on equipment amounted to $R219200.$

Provide for R$5000$ outstanding interest on the fixed deposit. Interest is not capitalised. The

investment in fixed deposit was made on $01$ March $2023$ and it matures on $28$ February $2026.$

The loan was obtained from Zap Bank on $01$ February $2024.$ Provide for the outstanding interest

for February $2024,$ R$2760.$ Interest is not capitalised. Repayments $($excluding interest$)$ totalling

R$24000$ are expected to be made during the financial year ended $28$ February $2025.$

The tenant has already paid the rent of $R10000$ for the first month of the next financial year.

The municipal rates statement for the year ended $29$ February $2024$ reflected that $R6000$ was

paid in advance for the next financial year.

A debtor who owed R$2000$ was declared insolvent. Her account must now be written off.

A provision for bad debts of $R15000$ must be created.

The net profit for the year ended $29$ February $2024,$ after taking the above into account,

amounted to $R613440.$