On $31$ December $2021$ the property was re$-$valued upwards by R$300000$ using the replacement value method. This revaluation still has to be recorded.

$4$ On $1$ December $2021,$ Kinta Baloyi Ltd received cash for $125000$ shares issued at R$2$ each, and all the shares were allotted on this day. This issue has not yet been recorded.

s$.$ On $31$ December $2021$ the directors declared a dividend of $20$ cents per share on all the issued shares, including those issued on $1$ December $2021.$ No entries have yet been made for this.

In drafting the trial balance, all the expenses of Kinta Baloyi Limited had been allocated to the following four functions:

Cost of sales,

Distribution costs,

Operating costs, and

Administration costs

The above costs reflected on the trial balance include the following:

Depreciation on the sales department equipment, R$55000$

Depreciation on the office furniture and equipment, R$65000$

Salaries of the sales staff, R$220000$

Salaries of the office staff, R$200000$

REQUIRED:

a$).$ Prepare general journal entries on $31$ December $2021$ for additional information numbers $1,2,3,4$ and $5.$ You are not required to prepare the closing transfers for the write down of inventory and ordinary dividends accounts.

$(10)$

$($Dates and narrations may be omitted.$)$

b$).$ Prepare the statement of comprehensive income of Kinta Baloyi Limited for the year ended $31$ December $2021$ in conformity with International Financial Reporting Standards. $($Show your calculations in brackets.$)$

$(6)$

c$.)$ Prepare the statement of changes in equity of Kinta Baloyi Limited for the year$-$ended $31$ December $2021$ in conformity with International Financial Reporting Standards.

d$).$ Prepare the statement of financial position of Kinta Baloyi Limited at $31$ December $2021$ in conformity with International Financial Reporting Standards. $($Show your calculations in brackets.$)$

END OF PAPER