The following information pertains to Machiwandinata Lid and covers questions 1 - 12 Machivandinala Ltd is a company incorporated in 2016 and has a 28 February financial year-end. The company's accountant presented the following information to you as the accounting officer of the company MACHIVANDIHALA LTD EXTRACT OF BALANCES AS AT 28 FEBRUARY 2021: R Retained earings (1 March 2020) 235 400 Share capitat Ordinary shares (1 March 2020) 666 300 Inventory (1 March 2020) 37 500 Trade receivables control 263 800 Petty cash 6 400 Loan Nandoni Bank 110 900 SARS (income tax) (on 28 900 Land and buildings at evaluation 1 041 100 Equipment al cost 542 100 Accumulated depreciation Equipment 77 800 Revaluation surplus (1 March 2020) 97 200 Income received in advance 7 500 Allowance for credit losses 5700 Bank (D 120 900 Trade payati control 215 300 Auditor's remunication 39 400 Sales 1 341 000 Camage on sales 2200 Settlement discount received 1 900 Allowance for settlement discount granted 5900 Purchases 256 000 Satanes and wages 250 600 Camages on purchases 1600 Owoctors' remuneration 189 700 Settlement discount granted 4600 7400 Stationery Telephone 5600 Additional information: 1 2 The allowance for credit tosses must be adjusted to R6 600 A debror who owes the business R10 500 was declared irisolvent and must be written of as irrecoverable The income tax for the financial your ended 26 February 2021 amounted to R121 100 and must son de recorded Authome share capital comats of 400 000 NTV ordinary shares Share capital stated above consists of ordinary shares Issued at 35 perse. On 01 December 2020, the directors issued 57 000 shares at R48 per share the shares were taken up by the public on 1 February 2021, this transaction has not been recorded 3 5 The loan from Nandoni was acquired on 1 March 2018 at an interest rate of 8% per annum. Interest on all loans for the current financial year has not yet been accounted for the loan is repayable in four annual equal instaments with effect from 1 March 2021 Directors made the following resolutions at year end Dividends declared at 80 cents per share and will pard at the end of April 2023 A total bonus amounting to R72000 must be paid to directors on 30 April 2021 Only 30% of the auditors fees were paid at the end of the year with the remainder to be paid the auditors during the second week of March 2021 The above transactions have not been recorded 6 7 Provision of R38 400 must still be made for depreciation on equipment Inventory on 28 February 2021 consisted of the following Inventory (stock) on hand R45 000 Stationary on hand R 4400 The revaluation of land for the current year resulted in a revaluation surplus amounting to R99 000 B QUESTION 1 Which alternative represents the correct amount for revenue in the statement of proht or loss and other comprehensive income of Machivandita Lid for the year ended 26 February 2017 A. 1 230 200 . 81341000 C. 1 461 700 D1336400 E.1456600 . F. 1226 000 Reset Selection QUESTION 2 Which alternative represents the correct amount for cost of sales in the statement of profit or loss and other comprehensive income of Machivandihala Lid for the year ended 28 February 2021? A. 336 600 B. 364 300 C. 362 500 D. 338 200 E. 312 800 F. 314200 Reset Selection Question 3 of 12 30 Points QUESTIONS which alternative represents the correct amount for salaries and wages in the statement of proft or loss and other comprehensive income of Machivandihala Lid for the year ended 28 February 2021? A. 229 900 B. 201 200 . O C. 157 900 D.250 600 - E. 273 200 F. 210 900 Reset Selection Question 4 of 12 3.0 Points QUESTION 4 Which alternative represents the correct amount for director's remuneration in the statement of profit or loss and other comprehensive income of Machivandihala Ltd for the year ended 28 February 2021? O A. 246 000 B.261 700 O C. 189 700 D.206 800 E. 174 000 F. 278 800 Reset Selection Question 5 of 12 3.0 Points QUESTIONS Which alternative represents the correct amount for auditor's remuneration in the statement of profit or loss and other comprehensive income of Machivandihala Lid for the year ended 28 February 2021? A.43 100 8.33 100 C.36 100 D. 39 400 E. 39 000 F. 43 000 Reset Selection