Question $1$

$($Marks: $100)$

You have been appointed to assist the accountant of Freedom$-$Co $($Pty$)$ Ltd in preparing the financial statements for the year ended $31$ December $2024.$ You have been provided with the following trial balance for the year ended $31$ December $2024$:

$\backslash$table$[[,$Debit,Credit$],[$R$1$ Ordinary shares,,$7800000],[$Retained earnings at the beginning of the year,,$1275000],[$Inventory at the beginning of the year,$8100000,],[$Land at cost$,5400000,],[$Buildings at cost$,16200000,],[$Buildings accumulated depreciation at the beginning of the year,,$4050000],[$Pant at cost$,18000000,],[$Plant accumulated depreciation at the beginning of the year,,$6750000],[$Motor vehicles at cost$,6000000,],[\backslash$table$[[$Motor vehicles accumulated depreciation at the beginning of the$],[$year$]],,2100000],[$Trade payables,,$16200000],[$Trade receivables,$10800000,],[$Provision for credit losses at the beginning of the year,,$450000],[$Purchases$,36750000,],[$Revenue$,,54000000],[$Administrative expenses,$3750000,],[$Distribution expenses,$4350000,],[$Other expenses,$900000,],[$Bank$,1950000,],[$Ordinary dividend paid,$750000,],[5\%$ Preference shares at R$1,,9000000],[9\%$ Loan,,$9000000],[$Other income,,$2325000],[112950000,112950000]]$