QUSTION 1 AS A JUNIOR BOOKKPR, YOU AR SUPPLI WITH THH RLVANT INFORMATION OF LOIT TRARS FOR TH YAER ENDING 30 JUNE 2021 Prepare the statement of Profit and Loss and Other comprehensive income for the year ending 30 June 2021 1.2 Complete only the Asset section of the Statement of financial Position 1.3 Draft the notes to the Asset section of the Statement of Financial Position. NOTE: DELLOITTE USES THE PERIODIC INVENTORY SYSTEM 1.1 INFORMATION DELLOITE TRADERS PRE-ADJUSTMENT TRAIL BALANCE ON 30 JUNE 2021 BALANCE SHEET ACCOUNT SECTION CAPITAL DRAWINGS EQUIPMENT ACCUMULATED DEPRECIATION ON EQUIPMENT VEHICLE ACCUMULATED DEPRECIATION ON VEHICLE INVENTORY (1 JULY 2020 TRADE RECEIVABLES CONTROL BANK CASH LOT TRADE PAYABLES CONTROL LOAN: CAPITAL BANK (18% P.a NOMINAL ACCOUNTS SECTION REVENUE PURCHASES SALES REVENUE CARRIIAGE ON PURCHASES CARRIAGE ON REVENUE CREDIT LOSSES CREIDT LOSSES RECORVED CUSTOM DUTIES INTEREST ON LOAN PACKING MATERIAL SALARIES SETTLEMMENT DISCOUNT GRANTED SETTLEMENT DISCOOUNT RECEIVED STATIONERY SUNDRY EXPENNSE RENT INCOME FOL DEBIT B1 B2 B3 B4 2. 3. B5 B6 B7 B8 TH B9 B10 B11 B12 N1 N2 N3 N4 TH N5 N6 N7 N8 N9 18 800 152 000 258 840 45 860 42 700 136 700 2000 143 500 7 250 990 1 065 8 155 10 400 12 000 N10 950 N11 69 000 N12 6540 N13 N14 4 500 N15 33 660 N16 954 910 CREDIT 368 960 23 200 31 800 7 800 95 000 413 700 1880 570 12 000 954 910 ADUSTMENTS AND ADDITIONAL INFORMATION 1. TRADING GOODS OF R825 WERE RETURNED DURING THIS FINANCIAL PERIOD. THESE GOODS WERE INCLUDED IN THE INVENTORY ON HAND AS MENTIONED ABOVE, BUT NO THE ENTRIES WERE MADE CUSTOM DUTY OF r550 WAS STILL OUTSTANDING FOR MAY ND JUNE 2021 INVENTORY ON HAND AT 30 JUNE 20221 INVENTORY, R41 999 PACKING MATERTIAL, R390 4. RENT HHAS BEEN RECEIVED UP TO 31 DECEMBER 2020 5. AN ADDITIONAL AMOUNT OF R120 MUST BE WROTTEN OFF AS IRRECOVERABLE. 6. SALARIES WERE PAID FOR 10 MONTHS ONLY NOTE: ON 1 MAY 2021 SALARIES WERE INCREASED BY 10%. 7. THE SUNDRY EXPENSE ACCOUNT INCLUDES AN AMOUNT OF R11 544 FOR AN ANNUAL BONUS WHICH WAS PAID UP TO 30 SEPTEMBER 2021 8. NON-CURRENT ASSETS MUST BE DEPRECIATED AS FOLLOWS: EQUIPMENT AT 20% P.A ACCORDING TO DIMINISHING BALANCE METHOD VEHICLE AT 15% P.A ACCORDING TO THE STAIGHT LINE METHOD NOTE: A NEW VEHICLE, R200 000 WAS PURCHASED ON 31 DECEMBER 2020 9. CREATE AN ALLOWANCE FOR CREDIT LOSES AT 5% OF TRADE AND OTHER RECEIVABLES. 10. PROVIDE FOR THE OUTSTANDING INTEREST ON THE LOAN. NOTE: THE INTEREST RATE ON THE LOAN FROM CAPITAL BANK WAS INCREASED BY 2% ON 01 JANUARY 2021.