The following list of accounts appeared on XYZ Traders on 31 December 2021: Creditors control Debtors...
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The following list of accounts appeared on XYZ Traders on 31 December 2021: Creditors control Debtors control Cash Equipment Long-term loan Capital Salaries Payable Inventory Long-term Investment R 4000 3 500 6 000 7.000 6500 ? 2000 2 500 4 500 Additional information: 1. The following balances appeared on XYZ Traders on 1 January 2021: Capital R5 000 Accounts payables R2 500 Equipment at cost R6 000 2. The profit for the year ended 31 December 2021 was R2 000. 3. The owner took R1 200 cash from the business for personal use during the current financial year. 4. Inventory balance on 1 January 2021 was R1 000. REQUIRED: Prepare the following for XYZ Traders: 1.1 Statement of Financial Position as at 31 December 2021 1.2 Statement of Changes in Equity for the year ended 31 December 2021 The following list of accounts appeared on XYZ Traders on 31 December 2021: Creditors control Debtors control Cash Equipment Long-term loan Capital Salaries Payable Inventory Long-term Investment R 4000 3 500 6 000 7.000 6500 ? 2000 2 500 4 500 Additional information: 1. The following balances appeared on XYZ Traders on 1 January 2021: Capital R5 000 Accounts payables R2 500 Equipment at cost R6 000 2. The profit for the year ended 31 December 2021 was R2 000. 3. The owner took R1 200 cash from the business for personal use during the current financial year. 4. Inventory balance on 1 January 2021 was R1 000. REQUIRED: Prepare the following for XYZ Traders: 1.1 Statement of Financial Position as at 31 December 2021 1.2 Statement of Changes in Equity for the year ended 31 December 2021
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Statement of Financial Position Balance Sheet as at 31st December 2021 for XYZ Traders ASSETS Curren... View the full answer
Related Book For
Fundamental Accounting
ISBN: 9781485112112
7th Edition
Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit
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