Question
Use the information provided below to prepare the Statement of Comprehensive Income for the year ended 28 February 2023. INFORMATION FIESTA TRADERS PRE-ADJUSTMENT TRIAL BALANCE
Use the information provided below to prepare the Statement of Comprehensive Income for the year ended 28 February 2023. INFORMATION FIESTA TRADERS PRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2023 Debit (R) Credit (R) Balance Sheet accounts section Capital 2 520 000 Drawings 160 000 Land and buildings 1 800 000 Vehicles at cost 1 360 000 Equipment at cost 1 000 000 Accumulated depreciation on vehicles 760 000 Accumulated depreciation on equipment 320 000 Fixed deposit: Rio Bank (10% p.a.) 300 000 Trading inventory 230 000 Debtors control 260 000 Provision for bad debts 16 000 Bank 134 000 Cash float 12 000 Creditors control 220 000 Mortgage loan: Rio Bank (12% p.a.) 640 000 Nominal accounts section Sales 3 000 000 Cost of sales 960 000 Sales returns 20 000 Salaries and wages 838 000 Bad debts 24 000 Stationery 40 000 Rates and taxes 116 000 Motor expenses 180 000 Repairs to building 34 000 Telephone 76 000 Electricity and water 92 000 Bank charges 16 000 Insurance 40 000 Interest on mortgage loan 66 000 Interest on fixed deposit 12 000 Rent income 270 000 7 758 000 7 758 00
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