\table[[Capital,216000],[Drawings,15000],[10% Long-term loan (Secured by equipment),60000],[12% Investment at cost,40000],[Vehicles Cost,100000],[Equipment Cost,49000],[Accumulated depreciation vehicles,20000],[Creditors control,20000],[Debtors control,20000],[Irventory...
90.2K
Verified Solution
Link Copied!
Question
Accounting
tableCapitalDrawings Longterm loan Secured by equipment Investment at costVehicles Cost,Equipment Cost,Accumulated depreciation vehicles,Creditors control,Debtors control,Irventory of consumables March Bank drIncome from sales,PurchasesPurchases returns,Carriage onfurchases,Salaries and wages paid,General expenses,Interest expense,Rent paid, Additional information: Inventory on hand at March amounted t R co Depreciation on equipment must still be provided for at per annum on cost price. Depreciation on Vehicles must still be provided for at per annum on reducing balance method. Salaries and wages not yet paid for March zo amount to R O You are required to: Prepare the statement of profit and loss and other comprehensive income of Thompson Traders for the year ended March 
tableCapitalDrawings Longterm loan Secured by equipment Investment at costVehicles Cost,Equipment Cost,Accumulated depreciation vehicles,Creditors control,Debtors control,Irventory of consumables March Bank drIncome from sales,PurchasesPurchases returns,Carriage onfurchases,Salaries and wages paid,General expenses,Interest expense,Rent paid,
Additional information:
Inventory on hand at March amounted t R co
Depreciation on equipment must still be provided for at per annum on cost price.
Depreciation on Vehicles must still be provided for at per annum on reducing balance method.
Salaries and wages not yet paid for March zo amount to R O
You are required to:
Prepare the statement of profit and loss and other comprehensive income of Thompson Traders for the year ended March
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.