MTC-Wear Your... 21:57 Expert Q&A Ballistic Limited is a listed company on the Namibia Stock Exchange with a year-end of 31 July. The following balances were extracted from it's ledgers. Trial Balance as at 31 July 2021 Share Capital Share premium Revaluation Surplus at 1 August 2020 Land and Building (Cost) Building-Accumulated depreciation at 1 August 2020 Plant and equipment (Cost) P&M Accumulated depreciation at 1 August 2020 Discount settlement received Discount settlement granted. Trade and other receivables Trade and other payables 5% Borrowing: AB bank Cash and Cash equivalents Retained earnings at 1 August 2020 Sales Purchases Distribution costs Administrative expenses Inventories at 1 August 2020 Dividend paid Adjustments: Dr Cr NS'000 NS000 50 20,280 2.213 130,000 32.000 50,000 25,000 10,000 22,500 18,000 30 8,725 20,000 12,940 110,926 8,326 7,741 7,280 3,000 67,231 278,121 278,121 1) The inventories at the close of business on 31 July 2021 cost N$9,420,000. 2) Depreciation is to be provided for the year to 31 July 2021 as follows: i. Buildings 4% per annum on straight-line basis, all to be allocated to administrative expenses. ii. Plant and equipment 20% per annum reducing balance basis to be apportioned as follows: Cost of sales: 70% Distribution costs: 20% Administrative expenses: 10% 3) Land, which is non-depreciable is included 44% Done