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ASSIGNMENT III Question IACCP9-6- This is about developing data analytics skills. On 15 Apri 2023, a fire damaged the office and warehouse of Stanialaw Corporation.

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ASSIGNMENT III Question IACCP9-6- This is about developing data analytics skills. On 15 Apri 2023, a fire damaged the office and warehouse of Stanialaw Corporation. The only accounting record saved was the general ledger, from which the trial balance below was prepared. STANISLAM CORPORATION TRIAL BALANCE 31 MARCH, 2023 The following data and information have been cathered. (i) The fiscal year of the corporation ends on 31 December. (ii) An examination of the April bark statement and canceled cheos revealed that cheques written during April 1-15 totalied R13,000: R5,700 paid to accounts payable as of 31 March, R3.400 for April merchandise shipments, and R3. 900 for other expenses. Deposits during the same period amounted to R12950, which consisted of receipts on account from customers, except for an R950 refund from a vendor for merchandise retumed in Apr!. (ii) Correspondence with suppliers revealed unrecorded obligations at 15 Aprl of R15,600 for April merchandise shipments, including R2,300 for shipments in transit (f.o.b. shipping point) on that date. (iv) Customers acknowledged indebtedness of R46,000 on 15 Acril 2023. If was also estimaled that customers owed another R3,000 that will never be acknowledged or recovered. the acknowledged indebtedness, R600 will be uncolectible. (v) The companies insuring the inventory agreed that the corporation's fire-loss claim should be based on the assumption that the overall gross proftr ratio for the past two years was in effect during the current year. The corporation's audted financial statements disclosed this indermation. (vi) Inventory for R7,000 was salvaged and sold for R3,500. The balance of the inventory was a total loss. DUE DATE 09 July 2023 at OSheD ASSIGNMENT II REQURRED Prepare a schedule computing the amount of inventory fire loss. (Pint: The supporting schedule of the computation of the gross profit should be in good form and understandable.) [13 marks]

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