Siphokuhle Traders Adjustments and additional information 1. The following items were on hand at the financial year end according to a physical count: Trading inventory R37 055, Stationery R260. 2. Rent has been received for the period 01 March 2022 to 31 March 2023. 3. Provide for outstanding interest on fixed deposit. The investment in fixed deposit was made on 01 December 2022 and it matures on 30 November 2023. 4. An amount of R5 250 is owning for interest on loan. 5. Write off the account of debtor, B. Lee, who owed R400. 6. Adjust the provision for bad debts to 5% of trade debtors. 7. Rates and taxes account includes a payment of R12000 made to the municipality for the period 01 July 2022 to 30 June 2023. 8. Repairs to the building, R5 000, was erroneously debited to Land and Buildings account. 9. The proprietor used R250 from the cash float to purchase personal items for herself. No entry was made for this transaction. 10. Depreciation on equipment is at 10% p.a. on cost. Note equipment, cost price R20 000, was purchased on 1 September 2022. The purchase has been recorded. 11. Depreciation on vehicles is at 20% p.a. on the diminishing balance. Required Prepare a statement of comprehensive income and a statement of financial position for the year ended 28 February 2023 (30 marks).

1. Siphokuhle Traders Adjustments and additional information 1. The following items were on
hand at the financial year end according to a physical count: Trading inventory R37 055,
Stationery R260. 2. Rent has been received for the period 01 March 2022 to 31 March 2023. 3.
Provide for outstanding interest on fixed deposit. The investment in fixed deposit was made on
01 December 2022 and it matures on 30 November 2023. 4. An amount of R5 250 is owning for
interest on loan. 5. Write off the account of debtor, B. Lee, who owed R400. 6. Adjust the
provision for bad debts to 5% of trade debtors. 7. Rates and taxes account includes a payment of
R12000 made to the municipality for the period 01 July 2022 to 30 June 2023. 8. Repairs to the
building, R5 000, was erroneously debited to Land and Buildings account. 9. The proprietor used
R250 from the cash float to purchase personal items for herself. No entry was made for this
transaction. 10. Depreciation on equipment is at 10% p.a. on cost. Note equipment, cost price
R20 000, was purchased on 1 September 2022. The purchase has been recorded. 11.
Depreciation on vehicles is at 20% p.a. on the diminishing balance. Required Prepare a statement
of comprehensive income and a statement of financial position for the year ended 28 February
2023 (30 marks)