Extract of pre-adjustment trial balance of Kumkani Traders as at

Question 22 of 27 3.0 Points Extract of pre-adjustment trial balance of Kumkani Traders as at 30 September 20.20 Debit R Credit R 200 000 ? 61 725 4450 195 000 50 000 345 060 9 500 6 780 Capital (1 October 20.19). Drawings...... Inventory: Trading (1 October 20.19).. Allowance for credit losses.. Mortgage: Ginsberg Bank.. Fixed deposit (at 7.5% per annum). Sales.. Carriage on purchases. Sales returns.. Rental income. Purchases. Purchases returns. Depreciation... Salaries and wages. Insurance expenses. Telephone expenses. Water and electricity... Credit losses. 19 800 197 800 2 890 38 367 88 500 27 300 14 280 23 450 1 600 After a year-end inventory count, the value of trading inventory on hand was R123 450. Additional information (a) Upon reviewing the list of account receivables outstanding at year end, the accountant determined that the allowance for credit losses account should amount to R3 000 on 30 September 20.20. Use the information in the pre-adjustment trial balance and the additional information to calculate the gross profit for the financial year ended 30 September 20.20. A. The gross profit for the year amounts to R197 705. B. The gross profit for the year amounts to R202 205. C. The gross profit for the year amounts to R208 985. . D. The gross profit for the year amounts to R195 595