Ndlovu Jam Ltd is a company specializing in the manufacturing of various types of jams and sauces.

The following is an extract of Ndlovu Jam Ltd$$s trial balance for the year ended $31$ December $2023$: Notes Debit

R Credit

R

Administration building $$ cost $1\mathrm{.}11500000$

Delivery vehicles $$ cost $1\mathrm{.}21150000$

Administration building $$ accumulated depreciation $1\mathrm{.}1150000$

Delivery vehicles $$ accumulated depreciation $1\mathrm{.}2330000$

Trade receivables $2115000$

Profit before tax $3962000$

Additional information

$1.$ Property, plant and equipment $1\mathrm{.}1$ Administration building

Ndlovu Jam Ltd acquired an administration building at a cost of R$1500000$ on $1$ January $2022.$ On this date the administration building was available for use as intended by management. The administration building has a residual value of Rnil and is depreciated over $20$ years according to the straight$-$line method. The SA Revenue Service does not allow a capital allowance on the administration building. $1\mathrm{.}2$ Delivery vehicles On $1$ January $2023$ Ndlovu Jam Ltd purchased a new delivery vehicle for R$650000.$ The delivery vehicle was available for use, as intended by management, and brought into use on this date. Ndlovu Jam Ltd sold a delivery vehicle for R$550000$ at year end on $31$ December $2023.$ The delivery vehicle was originally acquired on $1$ January $2022$ at a cost price of R$500000.$ The delivery vehicle was available for use, as intended by management, and brought into use on this date. On the date the delivery vehicle was sold, the accumulated depreciation amounted to R$200000.$ Only the following journal entry was recorded for the sale of the delivery vehicle in the accounting records of Ndlovu Jam Ltd for the year ended $31$ December $2023$: Bank $($SFP$)550000$ dr Sale of delivery vehicle $($P$/$L$)550000$ cr Recording of sale of delivery vehicle.

The delivery vehicles are depreciated according to the straight$-$line method over five $(5)$ years with no residual value.

The SA Revenue Service allows a capital allowance over four $(4)$ years $($not pro$-$rata$)$ on the delivery vehicles.

No other delivery vehicles were acquired or sold during the year.

$2.$ Trade receivables are as follows:

$20222023$

Trade receivables $130000150000$

Allowance for credit losses $(25000)(35000)$

$105000115000$

The SA Revenue Service allows $25\%$ of the allowance for credit losses as a deduction. Actual credit losses incurred are written off directly to the statement of profit or loss and other comprehensive income and not against the allowance for credit losses.

$3.$ Profit before tax

Included in profit before tax are $2023$

Foreign income received from China. The foreign income is not $180000$

taxable in South Africa in terms of a double taxation agreement

Ndlovu Jam Ltd paid foreign taxes of R$27000$ on this income.

Allowance for credit losses $($refer $2)10000$

Sale of delivery vehicle $($refer $1\mathrm{.}2)550000$

Donation $($not tax deductible$)13000$

Depreciation $$ administration building $75000$

Depreciation $$ delivery vehicles $230000$

Insurance premium paid for the year $1$ November $2023$ to $84000$

$31$ October $2024.$

$4.$ Taxation $$ The company provides for deferred tax on all temporary differences according to the statement of financial position approach. There are no exempt or temporary differences except those mentioned in the question. There is certainty beyond any reasonable doubt that the company will have sufficient taxable profit in future against which any deductible temporary differences can be utilised. $$ The deferred tax liability balance was R$1750$ on $31$ December $2022,$ which you may assume to be correct. $.$ The SA Normal tax rate changed from $28\%$ in $2022$ to $27\%$ in $2023.$ The capital gains tax inclusion rate is $80\%.$ Ignore the implications of Value Added Tax $($VAT$).$ The following is an extract of the statement of financial position $$SA Revenue Service $-$ current tax$$ general ledger account of Ndlovu Jam Ltd for the year ended $31$ December $2023$:

SA Revenue Service $-$ current tax

$31/07/2023$ Bank $(1$st provisional tax payment for $2023,$ The accountant of Ndlovu Jam Ltd has not y