INFORMATION:

$1.$ Post$-$adjustment trial balance on $28$ February $2018$:

Post$-$adjustment trial balance of Samdiego Traders on $28$ February $2018.$ Balance sheet accounts section

Capital: Sam $(900000)$

Capital: Diego $(660000)$

Current account: Sam $(1$ March $2017)53000$

Current account: Diego $(1$ March $2017)(56000)$

Drawings: Sam $88400$

Drawings: Diego $120600$

Land and buildings $950000$

Vehicles $620000$

Equipment $470000$

Accumulated depreciation on vehicles $(264000)$

Accumulated depreciation on equipment $(118000)$

Fixed deposit: FNB $180000$

Trading stock $181000$

Debtors control $60000$

Provision for bad debts $(2400)$

Deposit on water and electricity $7600$

Bank $(51500)$

Petty cash $1800$

Cash float $2200$

Mortgage loan: ABSA $(280000)$

Creditors control $(162000)$

Consumable stores on hand $6000$

Accrued expenses $(18400)$

Prepaid expenses $3815$

Accrued income $1985$

Income received in advance$(14100)$

Nominal accounts section

Sales $(1097500)$

Debtors allowances $40000$

Cost of sales $587500$

Rent income $(260000)$

Discount received $(17000)$

Bad debts recovered $(9000)$

Interest on fixed deposit $(8100)$

Telephone $65000$

Water and electricity $87000$

Insurance $23000$

Discount allowed $13500$

Salaries $136100$

Stationary $24000$

Bad debts $12000$

Interest on loan $33600$

Profit on disposal of assets $(12600)$

Depreciation $165000$

Provision for bad debts adjustment$(920)$

Trading stock surplus $(1580)$

Total $3933100$

Total $(3933100)$

The following additional information has already been correctly recorded:

$($a$)$ Partner Sam increased his capital by R$300000$ on $1$ July $2017$ while partner Dicgo

decreascd his capital by R$90000$ on $$ January $2018.$

$($b$)$ A quarter of the mortgage loan from ABSA will be settled within the next year while an

amount of R$60000000$ will be withdrawn from the fixed deposit at FNB on $15$ August $2018.$

$($c$)$ A cheque for R$3500$ was issued to a creditor on $10$ February $2018.$ The cheque was dated $10$ March $2018.$

$($d$)$ During the year, renovations to the amount of R$250000$ were done to the existing building.

$($e$)$ A new vchicle was bought for R$340000$ on I January $2018.$ Thc total depreciation on vehicles for the year amounted to R$96000.$ No vehicles were sold during the yea. Equipment with a carrying value of R$38000$ was sold on credit to a debtor on $31$ January $2018.$ The cost price of the equipment was R$220000.$ Extra depreciation to the amount of R$9000$ was written off on the equipment that was sold on $31$ January $2018.$ No new equipment was bought during the year.

The following stipulations of the partnership agreement must still be brought into consideration:

$($a$)$ Both partners are entitled to interest on capital of $10\%$ per annum.

$($b Partner Sam is entitled to a salary of R$3200$ per month.

$($c$)$ A bonus of R$3100$ was awarded to partner Dicgo.

$($d$)$The remaining profit is to be shared between Sam and Dicgo in the ratio $3$:$2$

REQUIRED:

$2\mathrm{.}1$ Complete the accounts provided in the General ledger on $28$ February $2018,$ the last day of the financial year.

$2\mathrm{.}2$ Complete the Income staterment of Samdiego Traders for the year ended $28$ Februay $20182\mathrm{.}3$ Complete the Balance sheet with notes to the financial statements of Samdiego Traders on $28$ February $2018.$ Where notes are not required the calculations must be shown on the face of the Balance sheet.