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Thuli Ltd, is a computer company with an authorized share capital of P3000,000, comprised of P6000,000 ordinary shares of 50 thebe each. The following

Thuli Ltd, is a computer company with an authorized share capital of P3000,000, comprised of P6000,000 ordinary shares of 50 thebe each. The following trial balance was extracted as at 31" August 2017. Ordinary share capital Share premium account General reserve Profit and loss account balance at 1 Sep 2016 8% debenture stock Leasehold premises at cost Leasehold premises -accumulated depreciation @ 1 Sep 2016 Plant and machinery at cost Plant and machinery-accumulated depreciation @ 1 Sep 2016 Motor vehicles at cost (used for supplies) Motor vehicles-accumulated depreciation @ 1 Sep 2016 Receivables Payables Bank Sales Sales returns Opening inventory Purchases Purchases returns Administration expenses Distribution expenses Bank overdraft interest Debenture interest Interim ordinary dividend paid P'000 3,900 820 300 169 79 180 2400 450 340 60 10 66 8,774 P'000 2,200 180. 260 74 250 500 320 80 95 120 4,535 160 8,774 Additional information: 1) Goods bought on 28 August 2017 for P70,000 had not been accounted for or included in the physical stock count at 31 August 2017, 2) Closing inventory. As per the physical stock count, at 31 August was valued at P220,000 3) Depreciation is to be charged as follows: Leasehold premises 2% on cost Plant and machinery Motor vehicles 10% on cost 20% on cost 4) Corporation tax for the year ended 31 August 2017 is estimated at 50% of the profit before tax. 5) The final dividend of 5% per share was paid to the ordinary shareholders on 31 August 2017, however this payment has not yet been recorded in the accounts. 6) Half year debenture interest to be provided for. Required. Prepare the Statement of Comprehensive Income of Thuli Ltd, for the year ended 31 August 2017. (20)

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