Answer ALL the questions in this section.

Answer the questions from the information provided.

1.1 When a transaction takes place it passes through various stages in the accounting cycle. If stationery is purchased on credit, state how each stage is affected by answering the questions in the table provided.

State the source document
Which journal is affected?
Which two accounts will change in the general ledger?
Which financial statement(s) will be affected?
Which resource utilisation ratio will be affected?

1.2 Study the information provided below and answer the following questions: 1.2.1 Calculate the carrying value of the vehicles as at 01 March 2020.

1.2.2 How much depreciation is applicable for the financial year ended 28 February 2021 on the vehicle that was sold?

1.2.3 Prepare the Asset Disposal account in the general ledger. Close off the account.

1.2.3.1

1.2.4 4. Calculate the depreciation for the year financial ended 28 February 2021 on the new vehicle that was purchased on 01 September 2020.

1.2.5 What was the cost price of the vehicles on 28 February 2021?

INFORMATION
1.	On 01 March 2020 the following balances, amongst others, appeared in the books of Roscoe Stores:
	Vehicles (at cost)	R500 000
	Accumulated depreciation on vehicles	R200 000
2.	On 01 September 2020 a new vehicle with a useful life of five years was purchased for R250 000.
3.	On 28 February 2021, the end of the financial year, an old vehicle with a useful life of five years was sold for R25 000 cash. The cost price of vehicle sold was R120 000 and the accumulated depreciation on it amounted to R90 000 on 01 March 2020.
4.	The straight-line method of depreciation is used.

Use the relevant information from the transactions of SS Stores provided below to answer the (20 Marks) following questions:

2.1 Prepare the Statement of Comprehensive Income for the month ended 30 April 2021.

2.2 Calculate the value of inventory as at 30 April 2021.

2.3 Prepare the Statement of Changes in Equity for the month ended 30 April 2021.

INFORMATION
Date	Transactions of SS Stores for April 2021
01	The proprietor, V. Bheki, commenced her business by depositing R200 000 directly into the bank account of the business.
01	A loan of R100 000 was obtained from Benbank and a direct deposit was made into the account of the business.
05	Purchased stationery from FD Stationers by means of an electronic funds transfer (EFT), R800.
07	Purchased equipment from JK Furnishers via EFT, R40 000.
09	Purchased trading goods on credit from VB Wholesalers, R44 000.
12	Paid the monthly rental to CS Agency, R4 000.
17	Sold goods on credit to T. Tall at cost plus 50%, R3 000.
18	Cash sales as per cash register tape, R21 000 (Cost R14 000).
19	An EFT for R10 000 was made to VB Wholesalers in part settlement of account. Received a discount of R300 on this payment.
23	V. Bheki, the proprietor, took goods at cost for her personal use, R700.
25	Purchased consumables on credit from RAQ Suppliers, R2 000.
27	Sub-let part of the premises to a tenant, HiHo Boutique. Received a direct deposit of R1 000 from them.
28	Received R500 cash from T. Tall in part settlement of his account. Allowed him a discount of R20.
29	Paid the water and electricity bill to the municipality, R3 000.
30	Salaries and wages were paid to the employees, R10 000.
30	Cash sales of merchandise to date, R36 000 (cost R24 000).
30	Paid interest on loan to Benbank for April 2021 at a rate of 12% per annum.