Question 1 (Marks: 401 Q1.1 Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. The equipment is depreciated at 20% according to the diminishing balance method. Required: Prepare the depreciation and closing transfer entries in the general journal of Hybrid Dealers on 31 March 2019 and 31 March 2020. (15) (25) Q.12 The following pre-adjustment trial balance appeared in the books of Musketeer Traders at the end of their financial year 30 September 2019. Ignore VAT. Folio Debit (R) Credit (R) 400 000 5500 450 000 225 000 65 000 107 000 3200 Statement of financial position section Capital Drawings Land and Buildings Motor Vehicles Accumulated depreciation: Vehicles Financial Asset: Fixed deposit : JP House Bank Debtors control Trading Inventory Mortgage Loan Creditors Control Nominal Accounts Section Sales Sales Returns Cost of Sales Rent Income Interest Income 18 220 24 640 210 520 33 980 1 200 000 18 800 800 340 45 000 4600 Service Income 8700 Rent Expense 66 700 Folio Credit(R) Debit(R) 3 500 102 380 6 300 Credit Losses Wages and Salaries Cleaning Materials Office consumables Interest on mortgage loan Electricity Rates and services 5 400 2 500 11 250 4870 Fuel 12 300 50 700 Advertising Telephone 25 600 1971 000 1971 000 Additional information and adjustments as at 30 September 2019: 1. The stock take revealed the following items on hand: Trading Inventory - R 11000 Office consumables - R 340 2 Depreciation must be provided for on vehicles at 25% per annum according to the straight-line method. No vehicles were bought or sold during the year. 3. The following adjustments must be made to enforce the accrual concept: Wages and salaries payable -R 6000 - Telephone prepaid for October 2019-R1 300 Rent income received in advance - R 3500 Accrued interest on fixed deposit - R5 350 Create an allowance for credit losses to the amount of R 870. Required: Prepare the post adjustment trial balance of Musketeer Traders on 30 September 2019