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You are given the following extract of information for Luna Dealers for the financial year ended on 28 February 20.2. Additional information: a) Inventory on
You are given the following extract of information for Luna Dealers for the financial year ended on 28 February 20.2. Additional information: a) Inventory on hand on 28 February 20.2 is R30 000. b) Luna Dealers still owe the courier service R300 for carriage on sales. c) The secretary took an advance on her March 20.2 salary of R.1 000. d) The rental income was received for 8 months although the contract is for the full 20.2 financial year. Assuming that the gross profit calculated in the trading account is R160 000 , the correct profit or loss account in the general ledger of Luna Dealers on 28 Feoruary 20.2 will be
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