The following balances were taken from the accounting records of Kiddy Krafts Traders for the year ended 31March 2022

The following transactions have not been accounted for in the above trial balance at 31 March 2022 (a) Depreciation on both vehicles and equipment for the year has not yet been accounted for. - Vehicles are depreciated at 15% per annum according to the straight-line method. - Equipment is depreciated at 20% per annum on reducing balance method. (b) Kiddy Kraft Traders received an invoice for water and electricity for an amount of R2 500 relating to March2021, which has not been paid yet. (c) R15 000 was received from Fancy Nancy for inventory to be delivered in April 2022. (d) PJ Mask, a debtor of Kiddy Kraft Traders, went into liquidation. His account of R2 500 was written off as a baddebt. No specific allowance for credit losses was previously recognised. (e) It is the policy of Kiddy Kraft to adjust their allowance for credit losses to 20% of outstanding debtors at yearend. The adjustment is yet to be processed. (f) Kiddy Kraft Traders has an insurance policy that it pays annually in advance. The insurance premiums forJanuary 2022 to December 2022 were paid during the month of January. The insurance premiums are R1 500 permonth. There were no drawings made by the owner during the year. Assume a net profit for the year of R79 075 after all adjustments have been processed. REQUIRED: Using the information above prepare the adjusting journal entries.

The following balances were taken from the accounting records of Kiddy Krafts Traders for the year ended 31 March 2022 Kiddy Kraft (Pty) Ltd Debit Credit Capital (1 April 2021) 525 000 Mortgage: ABSA Bank 415 500 Land and buildings at cost 715 500 Vehicles at cost 115 500 Equipment at cost 45 500 Accumulated depreciation vehicles (1 April 2021) 40 500 Accumulated depreciation Equipment (1 April 2021) 24 500 Fixed deposit Investment Bank 105 500 Inventory 65500 Debtors control account 35 500 Allowance for credit losses 19 000 Bank (favourable) 108 200 Creditor's control 54 000 Accrued expenses 32 500 VAT payable 20 500 Cash float 17 000 Petty cash 18 000 Sales 1063 750 Discounts: sales 65 750 Cost of sales 700 900 Rental income 55 500 Interest on loan: SBSA 28 250 Telephone & internet 32 500 Water and electricity 35 000 Salaries and wages 85 150 Insurance 31500 Advertising 45 500 Depreciation 2 250 750 2 250 750