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Information Adjustments and additional information 1. Inventory on hand on 28 February 20.15 amounted to R91000. Inventories FIFO method and at net realisable value, whichever
Information Adjustments and additional information 1. Inventory on hand on 28 February 20.15 amounted to R91000. Inventories FIFO method and at net realisable value, whichever is the lower. 2. Consumable stores according to stocktaking on 28 February 20.15 amountec 3. Advertising included a payment of R1 080 for advertisements to appear in a I November 20.14 to 30 April 20.15. 4. Depreciation is provided annually on equipment at 10% p.a. using the diminis 5. The loan from Zen bank is an unsecured loan that was granted to Madida Tr 01 February 20.14. Provide for the outstanding interest on loan. The loan is instalments. The first instalment is payable on 31 March 20.15. 6. The investment at Ben Bank was made on 01 June 20.14. Provide for the of fixed deposit. The fixed deposit matures on 01 June 20.15. The tenant has already paid the rent for March 20.15. Note that the monthly increased by 10% with effect from 01 December 20.14 . A debit order for R500 for the insurance of the proprietor's home was errone account. A debtor who owed R800 has been declared insolvent. His estate paid a firs cents in the Rand. The balance of his account must be written off. No entrie transactions. A debtor's account with a credit balance of R200 must be transferred to her ledger. Required - Use the information given below for Madida Traders (owner M. Madida) to prepare the - Statement of Comprehensive Income for the year ended 28 February 20.15 - Statement of Changes in Equity for the year ended 28 February 20.15 Statement of Financial Position as at 28 February 20.15. Notes to the financial statements for the year ended 28 February 20.15 Note: Madida Traders uses the periodic inventory system
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