Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required: Prepare the Statement of Comprehensive Income for the year ended 30 June 2017. [20] QUESTION THREE You are provided with information relating to Samora

Required: Prepare the Statement of Comprehensive Income for the year ended 30 June 2017. image text in transcribedimage text in transcribed

[20] QUESTION THREE You are provided with information relating to Samora Sports Limited. The company sells sports equipment and repairs equipment for their customers INFORMATION: 1.Figures extracted from the Pre-Adjustment Trial Balance on 30 June 2017: Ordinary share capital Fixed deposit Trading stock Debtors control Equipment (for office and shop) Accumulated depreciation on office and shop equipment Mortgage loan from Credbank Sales Debtors allowances Cost of sales Service fee income (in respect of repair services) Rent income Interest income Salaries and wages Employers' contributions to Pension Fund (expense) Audit fees Directors fees Consumable stores Bank charges Sundry expenses R 1 200 000 160 000 219 800 39 090 224 000 130 000 281 200 1 680 000 17 000 050 000 297 140 105 000 11 200 240 750 53 890 30 000 230 000 51 100 5 240 15 910

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Auditing: An International Perspective

Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen

1st Edition

0077095324, 978-0077095321

More Books

Students also viewed these Accounting questions