Hi, please assist on this Business Finance assignment. Thank you.
LNESERLTO Reouine The following lemplates (with some figures already entered) were provided to you: Read tha following case study and answer the questions that follow FINANCUL STATEMENTS In response lo nppeals made by the gavemners bo assist in reducing unemployment and contrbuting lowarts slals devtlopment Lineier Lid decided to ofler learneships in the field of accounting You are one of the persons who was intervewed for a leacnenhip posifon in the coenosyy. After the intervew, as part of the second step in the solecton process, you wore asked to complete two francia statements The folowing information was given to you. The list of belances provided bolow, which were extractud from the accounting records on 31 December 2022 (the end of the finandal year), did not consider any of the following year end adjustrnents: Physical stodtaking on 31 December. 2022 revesled trading inventory of R140 000 and stasionery of R2 000. Notces from the municipalify reflected the rates assessment for the years ended 30 June 2002 and 30 June 2023 to be R30 000 and R36 000 respectively. Depreciaton must be provided on vehicles at 20% por annum using the reducing balance metod and on equipment 210% per annum on cost. If must be noted that a vehide which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was ony able to pay R1 200 (abrady recorded), which represented 40% of the amount that she owed. The balance of her account must now be wilten of . The insurance total indudes an insurance premium of R4 800 that was paid for the period 01 Apra 2022 to 31 March 2023. Ar amount of R24 000 was owed for directors' fees and was due to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provido for interest on debentures that is yet to be paid. The company tax calculation based on the profit for the year tevealed that an amount of R20 008 was owed io South African Reverue Services. The following list of belances were obtained froen the ledger of Linkker LId on 31 Decermber 2022 before the above year-end adjustments wore considered: LINEKER LTD STATEMENT OF FINANCIAL. POSITION AS AT 31 DECEMBER 2022 REQUIRED Complete the frnancial statements wh the missing shounts and detals. The ectre statemens must be submitted. Where applicable, show your woklings in trackets. You may Highlighl your answers for the miasing amounts or show them in bold print. The notes to the financial statemonts and Statement of Cranges in Equity are not required. Do not bype in the shadod aceas Do not change the formats UNEKER LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DFCEMRED 2 An Read the following case study and answer the questons that follow. FINANCIAL STATEMENTS In response to appeals made by the government to assist in reducing unemployment and contributing towards sills development Lineker Lti decided to offer learnerships in the feld of accounting. You are one of the persons who was interviewed for a learnership positon in the company. Aher the interview, as part of the second step in the selection process, you were asked to complete two francial statements. The following information was given to you: The list of balances provided below, which were extracted from the accounting records an 31 December 2022 (the end of the financial year), did not consider any of the following year-end ad,usiments: Physical stocktaking on 31 December 2022 revealed tracing inventory of R140 000 and stationery of R2 000. Notices from the municipally relected the rates assessment for the years ended 30 June 2022 and 30 June 2023 to be R30 000 and R36 000 ressectively. Depreciation must be provided on vehicles at 20% per annum using the reducing balanco method and on equipment at 10% per annum on cost. It must be noted that a vehicle which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was only able to pay R1 200 (already recorded), which represented 40% of the amount that she owed. The belance of her account must now be written oft. The insurance total includes an insurance premium of R4 800 that was paid for the period 01 April 2022 to 31 March 2023. An amount of R24000 was owed for directors' lees and was die to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provide for interest on debentures that is yet to be paid. The company tax calculation based on the proft for the year revealed that an amount of R20 008 was owed to South Afican Revenue Senvioes. The following list of balances were obtained from the ledger of Lineker Ldd on 31 December 2022 before the above year-end adjustments were considered: LNESERLTO Reouine The following lemplates (with some figures already entered) were provided to you: Read tha following case study and answer the questions that follow FINANCUL STATEMENTS In response lo nppeals made by the gavemners bo assist in reducing unemployment and contrbuting lowarts slals devtlopment Lineier Lid decided to ofler learneships in the field of accounting You are one of the persons who was intervewed for a leacnenhip posifon in the coenosyy. After the intervew, as part of the second step in the solecton process, you wore asked to complete two francia statements The folowing information was given to you. The list of belances provided bolow, which were extractud from the accounting records on 31 December 2022 (the end of the finandal year), did not consider any of the following year end adjustrnents: Physical stodtaking on 31 December. 2022 revesled trading inventory of R140 000 and stasionery of R2 000. Notces from the municipalify reflected the rates assessment for the years ended 30 June 2002 and 30 June 2023 to be R30 000 and R36 000 respectively. Depreciaton must be provided on vehicles at 20% por annum using the reducing balance metod and on equipment 210% per annum on cost. If must be noted that a vehide which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was ony able to pay R1 200 (abrady recorded), which represented 40% of the amount that she owed. The balance of her account must now be wilten of . The insurance total indudes an insurance premium of R4 800 that was paid for the period 01 Apra 2022 to 31 March 2023. Ar amount of R24 000 was owed for directors' fees and was due to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provido for interest on debentures that is yet to be paid. The company tax calculation based on the profit for the year tevealed that an amount of R20 008 was owed io South African Reverue Services. The following list of belances were obtained froen the ledger of Linkker LId on 31 Decermber 2022 before the above year-end adjustments wore considered: LINEKER LTD STATEMENT OF FINANCIAL. POSITION AS AT 31 DECEMBER 2022 REQUIRED Complete the frnancial statements wh the missing shounts and detals. The ectre statemens must be submitted. Where applicable, show your woklings in trackets. You may Highlighl your answers for the miasing amounts or show them in bold print. The notes to the financial statemonts and Statement of Cranges in Equity are not required. Do not bype in the shadod aceas Do not change the formats UNEKER LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DFCEMRED 2 An Read the following case study and answer the questons that follow. FINANCIAL STATEMENTS In response to appeals made by the government to assist in reducing unemployment and contributing towards sills development Lineker Lti decided to offer learnerships in the feld of accounting. You are one of the persons who was interviewed for a learnership positon in the company. Aher the interview, as part of the second step in the selection process, you were asked to complete two francial statements. The following information was given to you: The list of balances provided below, which were extracted from the accounting records an 31 December 2022 (the end of the financial year), did not consider any of the following year-end ad,usiments: Physical stocktaking on 31 December 2022 revealed tracing inventory of R140 000 and stationery of R2 000. Notices from the municipally relected the rates assessment for the years ended 30 June 2022 and 30 June 2023 to be R30 000 and R36 000 ressectively. Depreciation must be provided on vehicles at 20% per annum using the reducing balanco method and on equipment at 10% per annum on cost. It must be noted that a vehicle which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was only able to pay R1 200 (already recorded), which represented 40% of the amount that she owed. The belance of her account must now be written oft. The insurance total includes an insurance premium of R4 800 that was paid for the period 01 April 2022 to 31 March 2023. An amount of R24000 was owed for directors' lees and was die to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provide for interest on debentures that is yet to be paid. The company tax calculation based on the proft for the year revealed that an amount of R20 008 was owed to South Afican Revenue Senvioes. The following list of balances were obtained from the ledger of Lineker Ldd on 31 December 2022 before the above year-end adjustments were considered
