The purchases and purchase returns records for the year were as follows;

$\backslash$table$[[$Purchases$,],[$July$,330$ units at R$100$ each$],[$October$,375$ units at $R110$ each$],[$January$,118$ units at R $120$ each$],[$March$,25$ units at R$130$ each $($after trade discount$)],[$Purchase returns$],[$July$,47$ units at $R100$ each$],[$March$,10$ units at R$130$ each$]]$

A Chinese supplier entered the market in late March and was selling its speakers at R$177$ each. The normal selling price of Jack was R$236.$

In March $2024,$ a carton of $10$ speakers purchased in March was stolen. Jack is not insured for losses of this nature.

No taxation or dividends are payable for the year.

Required;

a$)$ Record the joumal entries to finalise the books for the year ended $31$ March $2024$ for items $1,2,6$ and $7$ only. Narrations are not required. If no entry is required, state this fact and give a reason for your answer.

$(10$ marks$)$

b$)$ Prepare the statement of comprehensive income for the year ended $31$ March $2024.$ taking $(1-8)$ above into account.

marks$)$

Jack Ltd sells portable waterproof speakers to hypermarkets. You have been asked to assist in the preparation of the annual financial statements for the year ended $31$March $2024.$ The following statement of comprehensive income has been prepared by the bookkeeper.

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