Answer ALL the questions.

$(100$ MARKS$)$

QUESTION $1$

$(20$ Marks$)$

REQUIRED

Prepare the Statement of Financial Position as at $29$ February $2024.$

INFORMATION

The trial balance, additional information and adjustments given below were obtained from the records of Torga Traders on $29$ February $2024,$ the end of the financial year.

$\backslash$table$[[$TORGA TRADERS,,$],[$PRE$-$ADJUSTMENT TRIAL BALANCE AS AT $29$ FEBRUARY $2024,,],[,$Debit $($R$),$Credit $($R$)],[$Balance sheet accounts section,,$],[$Capital$,,3530000],[$Drawings$,362000,],[$Land and buildings at cost$,2340000,],[$Equipment at cost$,1600000,],[$Vehicles at cost$,1000000,],[$Accumulated depreciation on equipment,,$504000],[$Accumulated depreciation on vehicles,,$252000],[$Fixed deposit: Zap Bank $(9\%$ p$.$a$.),100000,],[$Trading inventory,$244000,],[$Debtors control,$302000,],[$Bank$,,],[$Cash float,,$],[$Creditors control,,$],[$Loan: Zap Bank $(18\%$ p$.$a$.),,],[,,],[$Nominal accounts section,,$],[$Sales$,,],[$Cost of sales,,$],[$Sales retums,,$],[$Advertising$,,],[$Stationery$,,],[,,]]$