Grade 10 General ledger. Trading account and profit and loss account.

Debit Credit 784 490 58 000 100 000 910 000 140 000 52 000 16 300 20 720 55 500 3530 20 000 45 000 875 000 Balance Sheet Accounts Section Capital Drawings Loan: Nongoma Bank (18%) Land and Buildings Equipment Accumulated depreciation on equipment Trading stock Debtors control Bank Petty cash Fixed deposit: Manzini Bank (11%) Creditors control Nominal accounts section Sales Debtors allowances Cost of sales Salaries and wages Fee income Rent income Discount allowed Discount received Insurance Bank charges Bad debts Telephone Water and electricity Stationery Interest on loan Sundry expenses 12 600 500 000 96 750 8 400 41 100 800 880 9 800 1 210 5 200 12 560 14200 10 800 13 500 5400 1 906 870 1 906 879 Adjustments and additional information 1 Invoice issued to a debtor S. Nades for computer sold to him on credit was omitted by mistake. Selling price R5 000 (cost price R3 000). 2 The owner took goods for R 1200 every month for his own use. The bookkeeper debited salaries in error. Correct the error. 3. The Fee income of R 4 000 not yet received by the business. 4. Rent has been received for 13 months. The rent has increased by R 300 per month with effect from 1 September 2019 5. A debtor who owed R1 200 was declared insolvent. A dividend of 40 cents to the rand was received and recorded. Write off the remaining debt as irrecoverable. 6. The insurance amount includes an annual premium of R2 160 for the period starting on 1 December 2019. 7. A physical stock count on 29 February 2020 revealed the following on hand: Trading stock R 15 500 Stationery 8. The telephone account for February 2020 has not yet been paid, R 450. 9 The interest on the loan is calculated at 18% p.a. Outstanding interest must be brought into account. Interest is not capitalised. 10. Depreciation on equipment is 20% p.a. on carrying value. 11. The interest on the fixed deposit is still owed to the business at the end of the year. Interest is 11% p.a. interest is capitalised. R 460