AutoSave Off FINAL EX... Search Sign in File Home Insert Design Layout References Mailings Review View Help Share Comments X Cut Calibri (Body) 11 A A Aa to E AL 1 AaBbCcDc AaBbccdc AaBbci AaBbccc AaB 1 No Spac... Heading 1 Heading 2 LG Copy Format Painter Find c Replace A Select Paste BI U ab x? X2 ADA 1 Normal Editor Title Clipboard Font Paragraph Styles Editing Editor iv) On 1 March 2019, Kelly invested P80 000 in a negotiable certificate of deposit. The interest and the capital amount are received back in one amount on 28 February 2020. The interest rate is 8% per year, calculated on the simple interest rate method. v) On 1 July 2017, Kelly received an amount of P150 000 on loan from the bank. The written loan agreement with the bank inter alia stipulates that the interest rate is 12% per year and that the interest and the primary debt are repayable in one amount on 30 June 2019. The interest is added at the end of every six months and the interest schedule is as follows: Date Detail Interest at 12% per year Amortised cost of the loan 1 July 2017 Primary debt 150 000 31 Dec 2017 Interest 159 000 9 000 9540 30 Jun 2018 Interest 168 540 31 Dec 2018 Interest 10 112 178 652 30 Jun 2019 Interest 10 719 189 372 39 371 vi) On 30 December 2019, Kelly sold goods to the amount of P11 200 on credit to trade receivable Oatty. The cost of these goods amounts to P8 000. This transaction still must be recognized. Kelly uses the perpetual inventory system. REQUIRED: Show the: a) Statement of Profit and Loss and Other Comprehensive Income extract and; (14marks) b) Statement of Financial Position extract after accounting for the items in the notes. (11 marks) Page 6 of 6 909 words LX C Focus 100% H o Type here to search 2 W 24C Rain Au 6:42 AM 08-Nov-21 AutoSave Off FINAL EX... Search Sign in File Home Insert Design Layout References Mailings Review View Help Share Comments X Cut Calibri (Body) 11 A A Aa to E AL 1 AaBbCcDc AaBbccdc AaBbci AaBbccc AaB 1 No Spac... Heading 1 Heading 2 LG Copy Format Painter Find c Replace A Select Paste BI U ab x? X2 ADA 1 Normal Editor Title Clipboard Font Paragraph Styles Editing Editor iv) On 1 March 2019, Kelly invested P80 000 in a negotiable certificate of deposit. The interest and the capital amount are received back in one amount on 28 February 2020. The interest rate is 8% per year, calculated on the simple interest rate method. v) On 1 July 2017, Kelly received an amount of P150 000 on loan from the bank. The written loan agreement with the bank inter alia stipulates that the interest rate is 12% per year and that the interest and the primary debt are repayable in one amount on 30 June 2019. The interest is added at the end of every six months and the interest schedule is as follows: Date Detail Interest at 12% per year Amortised cost of the loan 1 July 2017 Primary debt 150 000 31 Dec 2017 Interest 159 000 9 000 9540 30 Jun 2018 Interest 168 540 31 Dec 2018 Interest 10 112 178 652 30 Jun 2019 Interest 10 719 189 372 39 371 vi) On 30 December 2019, Kelly sold goods to the amount of P11 200 on credit to trade receivable Oatty. The cost of these goods amounts to P8 000. This transaction still must be recognized. Kelly uses the perpetual inventory system. REQUIRED: Show the: a) Statement of Profit and Loss and Other Comprehensive Income extract and; (14marks) b) Statement of Financial Position extract after accounting for the items in the notes. (11 marks) Page 6 of 6 909 words LX C Focus 100% H o Type here to search 2 W 24C Rain Au 6:42 AM 08-Nov-21
