Prepare the Statement of Financial Position as at 2 9 February 2 0 2 4 . INFORMATION
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Question:
Prepare the Statement of Financial Position as at February
INFORMATION
The trial balance, additional information and adjustments given below were obtained from the records of Torga Traders on February the end of the financial year.
TORGA TRADERS
PREADJUSTMENT TRIAL BALANCE AS AT FEBRUARY
Debit R Credit R
Balance sheet accounts section
Capital
Drawings
Land and buildings at cost
Equipment at cost
Vehicles at cost
Accumulated depreciation on equipment
Accumulated depreciation on vehicles
Fixed deposit: Zap Bank pa
Trading inventory
Debtors control
Bank
Cash float
Creditors control
Loan: Zap Bank pa
Nominal accounts section
Sales
Cost of sales
Sales returns
Advertising
Stationery
Bad debts
Discount allowed
Discount received
Electricity and water
Interest on fixed deposit
Interest on overdraft
Insurance
Salaries
Bank charges
Rent income
Municipal rates
Additional information and adjustments
The bookkeeper did not record the following debit entries that appeared on the February bank statement:
Bank charges R
Interest on overdraft R
The financial yearend inventory count revealed the following inventories:
Trading inventory R
Stationery R
Vehicles are to be depreciate
Posted Date: