Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pre-adjustment trial balance for the year ending 30 November 2022 Balance sheet section Mortgage loan: Nedbank Bank (favourable) Debtors' control Trading stock Provision for
Pre-adjustment trial balance for the year ending 30 November 2022 Balance sheet section Mortgage loan: Nedbank Bank (favourable) Debtors' control Trading stock Provision for bad debts R 333 200 482 000 116 500 209 500 3 732 Nominal accounts section Sales Sales returns Cost of sales 4 777 300 21 200 2 660 705 375 000 365 540 84 800 Director's fees Salaries and wages Insurance Sundry expenses Depreciation Audit fees Repairs Rent income Interest income Bad debts recovered Packing material Advertising Loss of computer due to thei Additional information: 1. Stock counts on 30 November 2022 revealed the following on hind. Trading stack F225 500 Packing material R3 700 Provide for interest on loan at 5% per annum 3. Trade discount of R97 200 was allowed on invoices to certain customers 4. Adjust the provision for bad debts of debtors to4k 54 230 124 260 23 000 100 000 101 900 35 780 10 540 009 EL 20 596 9 300 Required: Prepare the statement of comprehensive and other income for Mudzari Inn Traders for the year ending 30 November 2022. (25)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started