Remaining Time 1 hour, 12 minutes, 45 seconds. Question Complusion States: Beamers Traders (Beamers") is a gym equipment retailer and applies a gross profit percentage of 50% on the sales price. Beamers is not a Value Added Tax (VAT) vendor. The following trial balance appeared in the records of Beamers on 31 December 20.20, the end of the reporting period: Pre-adjustment trial balance as on 31 December 20.20 Debit Credit R Capital 733 110 Drawings 15 000 Land and buildings (at cost) 300 000 Vehicles (at cost) 50 000 Equipment (at cost) 22 000 Accumulated depreciation: Vehicles (1 January 10 00 20.20) Accumulated depreciation: Equipment (1 January 20.20) 3 300 Loan: XYZ Bank Lid (1 July 20.20) 115 000 Fixed deposit. NBC Bank Lid @12% (1 August 20.20 50 000 Inventory: Merchandise 61 000 Trade receivables control 9 900 Bank 383 860 Trade payables control 10 000 Sales 300 000 Cost of sales 200 00 Sales returns 5 200 Wages 15 500 Salaries 38 500 Credit losses 1 550 Stationary 14 700 Insurance 7 125 Water and electricity 4 600 Telephone expenses 3 900 Advertising 4 500 Interest on Long-term loans 2 875 Rent income 16 800 1 188 210 1 188 210 The following adjustments must stil be accounted for 1. According to the long-term borrowing agreement, interest is payable at a rate of 20% per annum. 2. The rent income were received for 13 months. Rent income was earned evenly throughout the year 3. An amount of interest on the fixed deposit is still receivable for the current financial year. 4. Credit sales to Chetty Traders amounting to RB 500. (Cost Price=?) has not yet been recorded for December 20.20 5. Depreciation must be provided as follows: "Vehicles: 20% per annum on the straight line method. Equipment: 15% per annum on the diminishing balance method. 6. A debtor, Freeby Traders, who owes the entity R500, must be written off as irrecoverable Question 13 Required Marks Journalise the relevant transactions (including cash transactions) for numbers 1, 3 & 5 in the general journal of Beamers Traders for the 10 year ended 31 December 20.20. Journalise the closing transfers for the following accounts in the records of Beamers for the year ended 31 December 20.20: Sales 10 Rent incomo