Adjustments and additional information The profit after tax for the year ended 31 July 2023 amounted to R392 100. The following adjustments were made to the income and expenses but not to the balance sheet accounts: 1. A physical stocktake on 31 July 2023 revealed the following: 1.1 Trading inventory on hand amounted to R1 050000 . 1.2 Stationery unused amounted to R2 000 . 2. Rent for August 2023 was received and recorded on 31 July 2023, R14 000. 3. Dividends of 70 cents per share are due from ABC Limited. 4. Commission on sales of R30000 is owed to the salespersons. 5. Equipment, cost price R120000, was purchased on credit on 01 July 2023 but no entry has been made for this. Depreciation on equipment is calculated at 15% p.a. on cost and on vehicles at 20% p.a. on the diminishing balance. 6. The bank statement was received after the trial balance was prepared and it reflected bank charges of R1 800 . 7. The provision for bad debts must be adjusted to 5% of debtors