REQUIRED

Prepere the Statement of Compretensive Income of Omege Lim$$ed for the year ended $29$ Februery $2024.$

Additional Info:

Adjustments and additional information

$1.$ Trading inventory according to stocktaking on $29$ February $2024$ amounted to R$36000.$

$2.$ Stationery unused according to stocktaking amounted to R$1000.$

$3.$ Interest on fixed deposit has been received until $31$ August $2023.$ Provide for the outstanding interest.

$4.$ Provide for outstanding interest on loan for the last month of the financial year.

$5.$ Included in the insurance total is an annual premium of R$2400$ that was paid for the period $01$ June $2023$ to $31$ May $2024.$

$6.$ The water and electricity account for February $2024$ was due to be paid on $02$ March $2024,$ R$2000.$

$7.$ Rent has been paid for the period $01$ March $2023$ to $31$ March $2024.$ Note: The rental increased by R$1000$ per month with effect from $01$ March $2024.$

$8.$ The bank statement for February $2024$ reflected an amount of R$500$ for service fees and cash deposit fees. No entry has been made for this.

$9.$ No entry has been made for an account received from Sigma Motors for repairs to a vehicle,

R$5000.$

$10.$ An insolvent debtor paid Omega Limited R$2000$ which represented $40\%$ of the amount owed. This has been recorded. The balance of his account must now be written off.

$11.$ The provision for bad debts must be decreased to R$2000.$

$12.$ Provide for depreciation as follows:

$12\mathrm{.}1$ On vehicles at $20\%$ per annum on the diminishing balance

$12\mathrm{.}2$ On equipment at $10\%$ per annum on cost$.$

$13.$ An amount of R$17583$ was overpaid to SARS for company tax.