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Use the information given below to complete the following financial statements: 1 . 1 Statement of Comprehensive Income for the year ended 2 9 February
Use the information given below to complete the following financial statements:
Statement of Comprehensive Income for the year ended February
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Statement of Financial Position as at February Show the workings in brackets next to the relevant details.
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Note: Some of the amounts have already been entered in the answer book.
INFORMATION
The following trial balance, adjustments and additional information were extracted from the records of Aerostat Traders for the financial year ended February :
AEROSTAT TRADERS
PREADJUSTMENT TRIAL BALANCE AS AT FEBRUARY
tableDebit RCredit RBalance sheet accounts sectionCapitalLand and buildings,Vehicles at costEquipment at costAccumulated depreciation on vehicles,,Accumulated depreciation on equipment,,Debtors controlAccounts receivable,Provision for bad debtsAllowance for credit losses,,BankCreditors controlAccounts payable,,Mortgage loan: Med Bank paNominal accounts sectionSalesSales returns,Opening stock,PurchasesSalaries and wages,Bad debts,StationeryRent expense,Motor expenses,Bad debts recovered,,TelephoneElectricity and water,Bank charges,nsurancenterest on mortgage loan,Commission income,,
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