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Extract of pre-adjustment trial balance of Rocky Traders as at 30 September 20.22 After a year-end inventory count, the value of trading inventory on hand
Extract of pre-adjustment trial balance of Rocky Traders as at 30 September 20.22 After a year-end inventory count, the value of trading inventory on hand was R123 450 . Additional information (a) On 1 April 20.22 Rocky Traders bought a factory building by means of a mortgage, from GL Bank, that bears interest at a rate of 10.05% per annum. The loan is redeemable in 20 annual instalments of R9 750 . The instalments are in arrears. Interest for the current year must still be provided for. (b) The fixed deposit investment of R105 000 was made on 1 April 20.22. Interest on this investment is paid annually. Use the information in the pre-adjustment trial balance and the additional information to calculate the interest on fixed deposit to be disclosed in the statement of profit or loss for the year ended 30 September 20.22 . Extract of pre-adjustment trial balance of Rocky Traders as at 30 September 20.22 After a year-end inventory count, the value of trading inventory on hand was R123 450 . Additional information (a) On 1 April 20.22 Rocky Traders bought a factory building by means of a mortgage, from GL Bank, that bears interest at a rate of 10.05% per annum. The loan is redeemable in 20 annual instalments of R9 750 . The instalments are in arrears. Interest for the current year must still be provided for. (b) The fixed deposit investment of R105 000 was made on 1 April 20.22. Interest on this investment is paid annually. Use the information in the pre-adjustment trial balance and the additional information to calculate the interest on fixed deposit to be disclosed in the statement of profit or loss for the year ended 30 September 20.22
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