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QUESTION5 The trial balance, adjustments and additional information were extracted from the accounting records of...

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QUESTION5 The trial balance, adjustments and additional information were extracted from the accounting records of Lagoon Traders on 29 February 2016, the end of the financial year. REQUIRED Prepare the Statement of Comprehensive Income for the year ended 29 February 2016. INFORMATION FINANCIAL STATEMENTS (20 MARKS) Lagoon Traders PRE-ADJUSTMENT TRIAL BALANCE AS AT 29 FEBRUARY 2015 Debit (R) Credit (R) Balance sheet accounts section Capital Drawings Land and buildings Vehicles at cost Equipment at cost Accumulated depreciation on vehicles Accumulated depreciation on equipment Fixed deposit: Int Bank (12% pa.) | Trading imventor Debtors control Provision for bad debts Bank Cash float Creditors control Mortgage loan: Int Bank (18% pa) 330 000 26 400 250 800 184 800 132 000 13 105 600 73 920 39 600 | 30.920 35 200 1980 25 180 200 36 790 56 000 Nominal accounts section Sales Cost of saies Sales returns Salaries and wages 415 320 158 800 2 640 -#117480 3.690 6 010ES Stationery Rates and taxes Motor expenses 11 700 6 400

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