QSN 1: The following pre-adjustment trial balance appeared in the books of Jaypeg Enterprises Sales returns N19 222000 Interest on fixed deposit N20 220000 Additional information and adjustments: 1. The owner, Mrs Jayden, took trading inventory with a selling price of R1600 for own use on 26 February 20.5 . The business trades at a constant mark-up of 331/3% on cost. This transaction has not yet been recorded. 2. According to a physical stock-take, the following was on hand on 28 February 20.5: MTrading inventory, 42400 HStationery, 600 MConsumable stores, 1040 3. A debtor, Miss F. Tumele, has been declared insolvent. Received a cheque for R6000, constituting 30 cents in the Rand from her insolvent estate. This transaction must still be recorded. Write the rest of her debt off as irrecoverable. 4. Adjust the allowance for credit losses to the amount of R5200, and the allowance for settlement discount granted to the amount of R 2470 . 5. Provide for depreciation as follows: HOn vehicles at 25% per annum on cost. Take into account that a new vehicle was bought for R360 000 on 1 June 20.4 . M On furniture at 162/3% per annum according to the diminishing balance method. Take into account that a new office desk was bought for R 8400 on 1 September 20.4. 6. The mortgage bond was registered on 1 March 20.4 . The initial interest rate was set at 12% p.a. but was raised to 13% on 1 September 20.4 . The mortgage loan is redeemable in quarterly installments of R 48000 starting from 1 June 20.4. All due installments were paid as scheduled, being on 1 June 20.4, 1 September 20.4, and 1 December 20.4. Simple interest is charged and debited to the current bank account of Jaypeg Enterprises. 7. The tenant moved into the building on 1 September 20.3. The rent for March 20.5 has been prepaid. 8. The quarterly statement of the fixed deposit shows accrued interest of R 200. The fixed deposit matures on 1 September 20.5 . 9. The amount for advertising includes an amount of R17000 for an advertisement that will be broadcast over radio during the period 13 March 20.5 to 21 April 20.5 . Required: (Note: Ignore VAT) (i) Journalise the adjustments. (ii) Draft the statement of financial position of Jaypeg Enterprises as at 28 February 20.5. (iii) Prepare the statement of profit or loss and other comprehensive income of Jaypeg Enterprises for the year ended 28 February 20.5. (iv) Prepare the statement of changes in equity of Jaypeg Entreprises for the year ended 28 February 20.5. (v) Prepare all relevant notes to the financial statements