The following information was obtained from the records of Nash Briges CC on 31 December 2013 Retained earnings (1 January 2013 Bank overdraft Furniture and fittings- Carrving amount Inventory (1 January 2013) Investment- Cost Land and buildings- Valuation Member\'s Contributions Allowance for credit losses 1 January 2013 Inland revenue provisional tax pavments made Revaluation surplus Trade creditors Trade debtors Vehicles- Cost price 1 January 2013 12% Members loan 20% Long-term loan (1 July 2013 Sales Purchases Delivery costs on sales Discount granted Discount received Income tax- current Insurance Interest on overdraft Interest received Members salaries Printing expenses Freight on purchases Rates and taxes Rent paid Repairs and maintenance Salaries and wages Water and electricit Credit losses 8 400 287 15 750 7 000 2 100 13 500 17 500 175 5 890 5 775 7 000 11 600 12 260 5 250 17 500 105 000 50 750 1 365 403 5 891 1 225 525 210 3 062 752 1 925 875 420 542 22 750 2 100 525 173 320 Additional Information (round off to the nearest) 1. Allowance for credit losses should be adjusted to 2.5% of trade debtors at year end Page 17 of 21 Solution Statement of profit or loss and other comprehensive income for Nash Bridges CC for the year ended 31st Dec 2013 Revenue 105000 Other Income - Discount 333 Interest Received 210 Total Income 105543 Less : Cost of Goods Sold 50950 Delivery cost on sales 1365 Insurance 1225 Members Salaries 3062 Depreciation 4815 Printing Expenses 752 Freight on purchases 1925 Rates and Taxes 875 Credit Losses 290 Rent Paid 420 Repairs and Maintenance 542 Salaries and Wages 22750 Water and electricity 2100 91071 Earnings before Interest and Tax 14472 Less : Interest on overdraft - 525 Profit before tax 13947 Less: Current Tax 5891 Profit After Tax 8056 Cost of goods Sold = Opening Stock+ Purchase- Closing stock 7000+50750-6800 50950 Credit Losses - 2.5%11600 290 Depreciation Furniture and Fittings 15% per year on the reducing balance method 15750*15% 2362.5 Vehicles 20% per year on the cost price 2452 4814.5.

1. The ocean's swimmers, such as fish, dolphin and squid are classified as
a. Plankton
b. Nekton
c. Kinetic
d. Limnetic
Solution
The ocean's swimmers, such as fish, dolphin and squid are classified as Nektons.
Planktons and Nektons both live in sea or freshwater. Planktons drift or float in the water but
cannot swim, whereas nektons like fish, dolphin and squid can able to swim.