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table [ [ Real accounts,Fol.,Debit,Credit ] , [ Capital , B 1 , , 1 9 2 3 7 5 ] , [ Motor

\table[[Real accounts,Fol.,Debit,Credit],[Capital,B1,,192375],[Motor vehicles at cost,B2,245000,],[Accumulated depreciaton: motor vehicles,B3,,147000],[Computer equipment at cost,B4,63900,],[Accumulated depreciaton: computer equipment,B5,,23004],[Land and buldings,B6,752000,],[Loan from: Peoples Bank,B7,,71000],[Mortgage bond: Peoples Bank,B8,,485000],[Fixed deposit Peoples Bank,B9,77000,],[Bank,B10,25880,],[Petty cash,B11,1050,],[Inventory,B12,178550,],[Accounts receivable,B13,98545,],[Accounts payable,B14,,67899],[Nominal accounts,,,],[Sales,N1,,3322486],[Interest income,N2,,6738],[Rent income,N3,,137200],[Insurance refund,N4,,12500]]
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CONSTRUCTION ACCOUNTING III-CSA3OSD ASSIGNMENT DUE DATE: 13 SEPTEMBER 2024
\table[[Purchases,N7,1658775,],[Advertising,N8,18552,],[Accounting fee,N9,27000,],[Bank charges,N10,15546,],[Creditlosses,N11,12355,],[Consulting fees,N12,55000,],[Interest expense,N13,50967,],[Insurance,N14,47250,],[Stationery,N15,745,],[Motor vehicles expenditure,N16,19885,],[Courier and postage,N17,2745,],[Repairs and maintenance,N18,48774,],[Salares and wages,N19,787445,],[Subscriptons,N20,14000,],[Legal fees,N21,7988,],[Donations,N22,1680,],[Staft welfare,N23,28774,],[Staff training,N24,83760,],[,,1362106,1],[362,,,]]
Additional information:
Insurance includes an amount of R18900, which was paid for a sixmonth period from 10 ctober 2020
Closing inventory as at 31 December 2020 amounted to R274886
Rent income was received for the period 1 January 2020 to 28 February 2021. Rent income is fixed monthly payment.
Page 3q,
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CONSTRUCTION ACCOUNTING III-CSABO5D ASSIGNMENT DUE DATE: 13 SEPTEMBER 2024
Subscriptions paid is only for 10 months instead of 12 months. Subscriptions are equal monthly premiums.
Interest on the fixed deposit only reflects interest from 1 January 2017 to 31 July 2020
People Bank is still obligated to pay interest for the rest of the year
Depreciation for the year needs to be raised. Computer equipment is depreciated at 20%
p.a. on the reducing-balance method, and motor vehicles at 20% p.a. on straight-line method. Depreciation for building amounted to R71000 for the year.
Interest on non-current liabilities has only been paid for 11 months. Interest should represent the full 12 months.
An additional credit loss amounting to R3888 needs to be written off as per Mr Wilson
Allowance for credits losses must be provided at 7.5% of gross trade recetivable. receivable.
You are required too
1. Prepare the post adjustment trial balance at 31 December 2020.(38.5 marks)
2. Prepare the statement of profit or loss for the year ended 31 December 2020.(13.5 marks)
3. Prepare the statement of financial position as at 31 December 2020(N.B only the asset part)(8 marks)
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