The following information relates to Bhumi Traders: Pre-adjustment trial balance for the year ending 30 April 2023 R R Balance sheet section Capital 889 834 Drawings 23 400 Land and buildings 670 000 Vehicles 94 000 Accumulated depreciation: Vehicles 20 560 Furniture and fittings 20 400 Accumulated depreciation: Furniture and fittings 6 410 Fixed deposit 100 000 Trading inventory (1 May 2022) 50 260 Debtors control 104 700 Bank 42 340 Creditors control 66 770 Nominal accounts section Sales 1 721 670 Purchases 1 272 600 Sales returns 15 670 Purchases returns 23 420 Rent income 44 750 Commission income 17 725 Advertising 17 530 Insurance 30 940 Interest expense 2 240 Stationery 6 642 Telephone 30 417 Wages and salaries 310 000 2 791 139 2 791 139 Additional information: 1. A physical stocktake was performed on 30 April 2023. The value of the stock on this date was R38 935. 2. Depreciation must be provided for as follows: ASSIGNMENT 2023 FIRST SEMESTER ACC101 ACCOUNTING Page 7 of Assignment Vehicles at a rate of 20% on cost. Furniture and fittings at a rate of 10% using the reducing balance method. 3. After consideration of the trade receivables (debtors), it was decided to raise an allowance for credit losses, being 1% of outstanding debts. 4. The rent for May 2023, R3 450, was received and banked before 30 April 2023. 5. Interest earned on the fixed deposit is 3.5% per annum. 6. The insurance premium for May 2023, R2 370, was paid in April 2023. 7. The telephone account for April 2023 was received late and has not been paid yet, R2 715. Required: Prepare the statement of profit or loss and other comprehensive income of Bhumi Traders for the year ended 30 April 2023. SHOW ALL YOUR CALCULATIONS.

Question 4 [28] The following information relates to Bhumi Traders: Pre_arlilietment trial halanre for the vear endine 3n nril 202} Additional information: 1. A physical stocktake was performed on 30 April 2023. The value of the stock on this date was R38 935. 2. Depreciation must be provided for as follows: STADIO Page 6 of Assignment ASSIGNMENT - 2023 FIRST SEMESTER ACC 101 ACCOUNTING - Vehicles at a rate of 20% on cost. - Furniture and fittings at a rate of 10% using the reducing balance method. 3. After consideration of the trade receivables (debtors), it was decided to raise an allowance for credit losses, being 1% of outstanding debts. 4. The rent for May 2023, R3 450, was received and banked before 30 April 2023. 5. Interest eamed on the fixed deposit is 3.5% per annum. 6. The insurance premium for May 2023, R2 370, was paid in April 2023. 7. The telephone account for April 2023 was received late and has not been paid yet, R2 715 . Required: Prepare the statement of profit or loss and other comprehensive income of Bhumi Traders for the year ended 30 April 2023. SHOW ALL YOUR CALCULATIONS