Question

Question 2 Mr Tisha-Nyama has been trading for some years. The following list of balances has been extracted from his ledger as at 28 February 2018, the end of his recent financial year. N$ Sales 62 330 Bank Account 25 900 Salary Expense 15 580 Stationery Expense 10 390 Rent Expense 4 500 Provision for doubtful debts 380 Telephone Expense 3 860 Creditors 5 000 Bad Debts 1 280 Motor Vehicle - Cost 12 500 The following additional information as at 28 February 2018 is available: a) Monthly rent expense of N$ 500; b) Salary is in arrears with N$ 520; c) Telephone was paid in advance with N$ 710; d) Depreciation on motor vehicle is provided at 20% per annum, straight line method and no scrap value; e) Provision for doubtful debts has been increased to N$ 500. REQUIRED: i) Journalise the above transactions, NARRATION IS NOT REQUIRED. ii) Prepare a post-adjusted trial balance as at 28 February 2018.

Answer 1