Equipment 36000 should read furniture and fittings 36000

Question [411 The following information relates to Tortila Traders Pre-adjustment Teal Balance on 30 April 2021 R R 300350 19 200 38000 430 000 121 000 35.000 18 800 TRO DOO 22 000 113 000 3500 50 000 58 750 Statement of financial position section Capital Drawings Land and buildings Vehicles Accumulated depreciation Vehicles Equipment Accumulated depreciation Furniture and finings Long term loan: Basque Bank Trading inventory (1) May 2020) Trade receivables Allowance for credit loss Fond depon Bank Trade payables Nominal accounts section Sales Purchases Sales returns Purchases returns Rent income Advertising Bank charges Credit losses Interest on loans Stationery Telephone Wages and salaries 8000 188 175 500 20 000 30 000 25250 16530 532 150 7200 162 2415 30 000 1 152930 1152930 Additional information: 1 A physical stocktake on 30 Apel 2021 revealed that the inventory on hand at the date amounted to R26 800 2 Depreciation must be provided for as follows Vehicles at a rate of 25% on cost. Take into account that the cost cudes a new delivery vehicle that was purchased on November 2020 at a price of R80 000 Furniture and fittings at a rate of 10% on the diminishing balance 3 Al year end, notification was received that a debtor who owed Torta Traders R1 500 declared insolvent and his debt must be written 4. The allowance for credit losses must be adjusted to 5% of outstanding debiton 5 The tenant moved into the building on 1 September 2020 No depost was payable on occupation, but rent is to be paid in advance The tenant paid her rent for Apr May and June 2021 during April 2021 Interesteamed on the fore deposit la 6% per annum There was no trovement during the year on the fixed deposit 7. The long-term loan from Basque Bank was received on 1 October 2019 The mal nominal Interest rate of 8% is not capitale but paid by Tortila Traders every months No capital repayments have been made during the financial year 8 Advertising for May 2021, R1 600, was paid in April 2021 9 The telephone account for April 2021 amount to R450. This has not yet been paid 10 The April 2021 salary of an employee is still due to be paid to her R7 000 11 A debtor, whose account of R1 300 had previously been written off as recovered his account in cul The transaction has not yet been recorded Required Prepare the statement of profit or loss and other comprehensive income of Tortilla Traders for they ended 30 April 2021. SHOW ALL YOUR CALCULATIONS Question [411 The following information relates to Tortila Traders Pre-adjustment Teal Balance on 30 April 2021 R R 300350 19 200 38000 430 000 121 000 35.000 18 800 TRO DOO 22 000 113 000 3500 50 000 58 750 Statement of financial position section Capital Drawings Land and buildings Vehicles Accumulated depreciation Vehicles Equipment Accumulated depreciation Furniture and finings Long term loan: Basque Bank Trading inventory (1) May 2020) Trade receivables Allowance for credit loss Fond depon Bank Trade payables Nominal accounts section Sales Purchases Sales returns Purchases returns Rent income Advertising Bank charges Credit losses Interest on loans Stationery Telephone Wages and salaries 8000 188 175 500 20 000 30 000 25250 16530 532 150 7200 162 2415 30 000 1 152930 1152930 Additional information: 1 A physical stocktake on 30 Apel 2021 revealed that the inventory on hand at the date amounted to R26 800 2 Depreciation must be provided for as follows Vehicles at a rate of 25% on cost. Take into account that the cost cudes a new delivery vehicle that was purchased on November 2020 at a price of R80 000 Furniture and fittings at a rate of 10% on the diminishing balance 3 Al year end, notification was received that a debtor who owed Torta Traders R1 500 declared insolvent and his debt must be written 4. The allowance for credit losses must be adjusted to 5% of outstanding debiton 5 The tenant moved into the building on 1 September 2020 No depost was payable on occupation, but rent is to be paid in advance The tenant paid her rent for Apr May and June 2021 during April 2021 Interesteamed on the fore deposit la 6% per annum There was no trovement during the year on the fixed deposit 7. The long-term loan from Basque Bank was received on 1 October 2019 The mal nominal Interest rate of 8% is not capitale but paid by Tortila Traders every months No capital repayments have been made during the financial year 8 Advertising for May 2021, R1 600, was paid in April 2021 9 The telephone account for April 2021 amount to R450. This has not yet been paid 10 The April 2021 salary of an employee is still due to be paid to her R7 000 11 A debtor, whose account of R1 300 had previously been written off as recovered his account in cul The transaction has not yet been recorded Required Prepare the statement of profit or loss and other comprehensive income of Tortilla Traders for they ended 30 April 2021. SHOW ALL YOUR CALCULATIONS