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The following balances were taken from the accounting records of Steel Eagle (Pty) Ltd for the year The following transactions have not been accounted for
The following balances were taken from the accounting records of Steel Eagle (Pty) Ltd for the year The following transactions have not been accounted for in the above trial balance at 30 June 2022. a) A year-end stock count was performed and the closing inventory on 30 June 2022 was R750000 b) Salaries earned by employees but not yet paid as at 30 June 2022 amounts to R38 000. c) On 1 February 2022, Steel Eagle rented out part of their premises to Tiny Eagle for a 12 months period. A payment of R13 200 was received on the date for the full year's rent. d) A statement was received for commissions earned, amounting to R550 that has not yet been received. e) The advertising expense is inclusive of R16 170 relating to a 3-month advertising campaign that started on 1 June 2022 and is expected to be completed by 31 August 2022. f) Insurance is paid annually in advance at the beginning of the calendar year. An amount of R18 000 was paid at the beginning of January for the 2022 calendar year. g) Interest on mortgage loan is payable quarterly in arrears on the first day of July, October, January, and April. The loan agreement was initiated on 1 June 2021. No repayments of the capital amount were made during the financial year. h) Furniture and equipment are depreciated at 10\% per annum using the straight-line method. REQUIRED (a) Prepare the statement of profit and loss for Steel Eagle (Pty) Ltd for the year ended 30 June 2022. Take into consideration all the year-end adjustments. When completing the template below ensure that numbers are written without without spacing and decimals for example R250000 is written as 250000 . Use brackets for example (250000) where applicable. Statement of comprehensive income for Steel Eagle (Pty) Ltd for the year ended 30 June 2022 R Less: Operating Expenses
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