USE THIS INFORMATION TO ANSWERS QUESTIONS 1 TO 23 Romeo (Pty) Ltd commenced business on 1 March 2020. At the end of the first year of trading, February 2021, the following list of balances was extracted from the pre-adjustment trial balance. Pre-adjustment trail balance at 28 February 2021 Debit Share capital Credit 112 000 Long term loan 50 000 Office equipment 15 000 Investments 257 000 Accounts receivables 8 500 Bank 37 811 Accounts payable 64 500 Fee revenue 527 270 Interest income 7 560 Rent expense 55 000 Wages 35 950 Salaries 306 685 Electricity and water 8 899 Stationary expense 30 285 Taxation expense 6 200 761 330 761 330 The following internal transactions must be taken into account: 1) Office equipment, purchased at the beginning of the financial year, is to be depreciated at a rate of 20% per annum on the straight-line basis. 2) Interest of R2 685, due on investments, has not yet been received. 3) A lease agreement for the full financial year was signed for building space rented. Rent payable have not been taken into account for the month of February2021. 4) It is estimated that R2 310 for electricity and R650 for water is due for the month of February 2021. 3) Interest at a rate of 18% per annum on the long-term loan must be taken into account for the year. 6) Stationary on hand at 28 February 2021 amounts to R5 250. 7) A salary cheque for R2 300 was entered into the wages account in error at the end of January 2021. 8) Juliette Jones was declared insolvent and her debt of R1 000 is to be written off as irrecoverable.