Gr 12 Nov 2024 P1 Q2 Companies Adjustments PART 3

Completing Question 2 on November 2024, IEB Paper 1. Adjustment no.8 to no.11 explained in detail using T accounts from the General Ledger. no.8 Directors fees with a twist; Stock taken by directore, Accrued expense as well as Deferred Expense. One of the directors also purchase a vehicle and all off set against the director's fee - no cash involved for any of these transactions. no.9 Interest on Fixed deposit calculated for a quarter as Accrued Income. no.10 Trading stock deficit example, showing the Trading stock account in detail. Also Consumables on Hand for Packing Material. no.11 Loan repayment for next year recorded as a SHORT term portion of Loan in the note for Trade and other Payables. Go to the IEB website and download the full MEMO. https://www.ieb.co.za/assessment/high...