U 1. QUESTION (20 M REQUIRED Prepare the set of Cortive come of Lords for the year ended Penany 2000 INFORMATION The Dance, adjustments and actional information given below were traded from the out of Lo Traders on February 2000, the end of the funcil ya LEO TRADERS PRE ADJUSTMENT TRIAL IMALANCE AS AT POLARY 2020 w Biances account section Gapital Drawings 5600 Land and BIG 903 000 Vides ator 000 Equipment al cost 4 "Addepreciation on von AGOUT Depreciation on coment 151000 TIL 237000 Trading Inventory Decor 70 000 Provision for bad 40 BR 5700 Cash 1000 Mortgage learnt To Hansa 120 horing our con Sales cost of 333 Sames and was fox Lary ces and De 7000 30 000 12000 IT 600 TWO Ecity and at LY 30000 monga 2000 15000 Adjustments and additional information 1. Stationery, cost R300, was taken by the proprietor for her personal use. No entry has been made for this 2. Physical stocktaking on 29 February 2020 reflected the following inventories: 21 Trading inventory R57 000 22 Stationery R200 3. H. Larkens, a debtor, was declared insolvent. Received an amount of R1 500, which represented 60% of his debt, from his insolvent estate. This has been recorded. The balance of his account must now be written off 4. The provision for bad debts must be decreased by R500. 5. Rent income amounts to R5 000 per month. Make the necessary adjustment 1 6. The water and electricity account for February 2020 has been paid, R2 500, but the payment was erroneously posted to the telephone account 17. The insurance total includes a premium of R2 400 that was paid for the period 01 December 2019 to 30 November 2020 8 An amount of R200 appeared in the February 2020 bank statement for cash deposit fees. This amount was not recorded by the bookkeeper 9. The investment in fixed deposit was made on 01 March 2019. Provide for the outstanding interest. 10. Provide for outstanding interest on loan, R1 120 11. Provide for depreciation as follows: 11.1 On vehicles at 20% per year using the diminishing balance method 11.2 On equipment at 10% per year on cost U 1. QUESTION (20 M REQUIRED Prepare the set of Cortive come of Lords for the year ended Penany 2000 INFORMATION The Dance, adjustments and actional information given below were traded from the out of Lo Traders on February 2000, the end of the funcil ya LEO TRADERS PRE ADJUSTMENT TRIAL IMALANCE AS AT POLARY 2020 w Biances account section Gapital Drawings 5600 Land and BIG 903 000 Vides ator 000 Equipment al cost 4 "Addepreciation on von AGOUT Depreciation on coment 151000 TIL 237000 Trading Inventory Decor 70 000 Provision for bad 40 BR 5700 Cash 1000 Mortgage learnt To Hansa 120 horing our con Sales cost of 333 Sames and was fox Lary ces and De 7000 30 000 12000 IT 600 TWO Ecity and at LY 30000 monga 2000 15000 Adjustments and additional information 1. Stationery, cost R300, was taken by the proprietor for her personal use. No entry has been made for this 2. Physical stocktaking on 29 February 2020 reflected the following inventories: 21 Trading inventory R57 000 22 Stationery R200 3. H. Larkens, a debtor, was declared insolvent. Received an amount of R1 500, which represented 60% of his debt, from his insolvent estate. This has been recorded. The balance of his account must now be written off 4. The provision for bad debts must be decreased by R500. 5. Rent income amounts to R5 000 per month. Make the necessary adjustment 1 6. The water and electricity account for February 2020 has been paid, R2 500, but the payment was erroneously posted to the telephone account 17. The insurance total includes a premium of R2 400 that was paid for the period 01 December 2019 to 30 November 2020 8 An amount of R200 appeared in the February 2020 bank statement for cash deposit fees. This amount was not recorded by the bookkeeper 9. The investment in fixed deposit was made on 01 March 2019. Provide for the outstanding interest. 10. Provide for outstanding interest on loan, R1 120 11. Provide for depreciation as follows: 11.1 On vehicles at 20% per year using the diminishing balance method 11.2 On equipment at 10% per year on cost
