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Answer ALL questions in this paper. [ 1 0 0 MARKS ] QUESTION 1 ( 2 0 Marks ) REQUIRED Use the information given below
Answer ALL questions in this paper.
MARKS
QUESTION
Marks
REQUIRED
Use the information given below to complete the following financial statements:
Statement of Comprehensive Income for the year ended February
marks
Statement of Financial Position as at February Show the workings in brackets next to the relevant details.
marks
Note: Some of the amounts have already been entered in the answer book.
INFORMATION
The following trial balance, adjustments and additional information were extracted from the records of Aerostat
Traders for the financial year ended February :
tableAEROSTAT TRADERSPREADJUSTMENT TRIAL BALANCE AS AT FEBRUARY Debit RCredit RtableBalance sheet accounts sectionCapitaltableLand and buildingsVehicles at costtableEquipment at costAccumulated depreciation on vehicles,,Accumulated depreciation on equipment,,tableDebtors controlAccounts receivableProvision for bad debtsAllowance for credit losses,,BanktableCreditors controlAccounts payabletableMortgage loan: Med Bank paNominal accounts sectionSalestableSales returnsOpening stock,tablePurchasesSalaries and wages,tableBad debtsStationerytableRent expenseMotor expenses,Bad debts recovered,,TelephoneElectricity and water,tableBank chargestableInsuranceInterest on mortgage loan,Commission income,,
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