$\backslash$table$[[$Accumulated depreciation on motor vehicles,,$34000],[$Office equipment,$159000,],[$Accumulated depreciation on oflice equipment,,$41500],[10\%$ Loan,,$160000],[$Irvestment$,185000,],[$Cheque account: FNB$,167400,],[2563500,2563500,,]]$

Additional information:

$($a$)$ Depreciation has not been recorded on property, plant and equipment. Motor vehicies are depreciated on the reducing balance method at $20\%.$ Computer equipment of R$85000$ was purchased on $1$ February $2023,$ replacing older items initially purchased for R$48000$ on $1$ November $2019.$ Office equipment of P$27000$ was purchased on $31$ December $2022.$ Cornputer equipment and office equipment depreciates on the straight line basis at $25\%$ and $10\%$ respecively.

$($b$)$ Mr$.$ Roy returned fauity goods of R$8100.$ Noot Traders applies a $50\%$ markup on finished products.

$($c$)$ The company allows a $2,5\%$ discount for accounts settled within $30$ days. Mrs$.$ Redkin purchased goods of R$58000$ on a $30-$day account on $1$ August $2023.$ The account was paid on $27$ August $2023,$ but the bookkeeper neglected to record the discount in all affected accounts.

$($d$)$ The water and electricity account of R$1500$ was received on $21$ September $2023$

$($e$)$ Artwork of R$2500$ was donated to Nicit Limited but not recorded.

$($f$)$ Professional work completed but not yet invoiced at year$-$end amounts to RS $000.$

$($g$)$ A delivery truck was purchased on $1$ December $2022$ for R$120000$ with an estimated residual value of R$35000.$ No vehicles were sold during the year.

$($h$)$ Rental for September $2023$ was paid on $12$ August $2023.$

$($i$)$ The company is taxed at $28\%.$

Required:

Prepare the Statement of Comprehensive Income of Noxit Limited for the year ended $31$ August $2023.$ Detail all calculations.QUESTION TWO

$[35]$

The trial balance of Nixit Ltd was prepared by the junior bookkeeper for the financial year ended $31$ August $2023.$

$\backslash$table$[[$Account$,$Debit,Credit$],[$Municipal charges,$26800,],[$Telephone and communication,$23400,],[$Rental expenses,$39000,],[$Credit losses,$1500,],[$Interest received,,$14400],[$Consulting charges,,$495000],[$Sale of goods,$630000,1548000],[$Cost of sales,$22800,],[$Printing and stationery,$28000,],[$Director fees,$215000,],[$Salaries and wages,$12000,],[$Interest on loan,$1500,],[$Penalties and fines,$6400,],[$Cleaning fees,$4800,],[$Computer expenses,,$110000],[$Capital$,,25800],[$Retained income,$198000,],[$Creditors control,,$],[$Computer equipment,$376100,],[$Accumulated depreciation on computer,,$],[$equipment$,148000,],[$Investment property,$500,],[$Debtors control,$14000,],[$Allowance for credit losses,$250000,],[$Inventory: Raw material,,$],[$Inventory: Stationery,,$],[$Motor vehicles,,$]]$

$1$

$\backslash$table$[[$Accumulated depreciation on motor vehicles,,$34000],[$Office equipment,$159000,],[$Accumulated depreciation on office equipment,,$41500],[10\%$ Loan,,$160000],[$Investment$,185000,],[$Cheque account: FNB$,167400,],[,2563500,2563500$

Please can you answer this with correct format and explanations