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Additional information and adjustments Physical stocktaking on 29 February 2024 revealed the following inventories:...

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Accounting

Additional information and adjustments
Physical stocktaking on 29 February 2024 revealed the following inventories:
1.1 Trading inventory, R200000
1.2 Stationery, R600
Rent has been paid up to 31 January 2024. Make the necessary adjustment.
A debtor who owed R2000 was declared insolvent. His account must now be written off
The provision for bad debts must be decreased by R8400.
Provide for the outstanding interest on the loan from Mi Bank, R15600.
The telephone account for February 2024 was due to be paid on 02 March 2024, R1800.
According to the bank statement service fees of R600 were levied by the bank. This has
not been recorded.
Received 60000 from H. Lino whose account was previously written off. No entry was
made for this.
A debtor whose account was overdue for one month must be charged interest at 12% p.a
on the account balance of R10000.
Provide for depreciation as follows:
10.1 On vehicles at 20% per annum using the diminishing balance method.
10.2 On equipment at 10% per annum on cost.
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