QUESTION $3$

$(20$ Marks$)$

REQUIRED

Prepare the Statement of Financial Position of Oasis Limited as at $30$ June $2023$

INFORMATION

OASIS LIMITED

POST$-$CLOSING TRIAL BALANCE AS AT $30$ JUNE $2023$

$\backslash$table$[[,$Debit,Credit$],[,$R$,$R$],[$Ordinary share capital,,$1506000],[$Retained earnings,,$240000],[$Long term loan: Vin Bank,,$100000],[$Land and buildings,$1742000,],[$Equipment$,150000,],[$Accumulated depreciation on equipment,,$80000],[$Trading inventory,$140000,],[$Debtors control,$40000,],[$Provision for bad debts,,$2000],[$Bank$,,7000],[$Cash float,$1000,],[$Creditors control,,$80000],[$SARS: Company tax payable,,$10000],[$Prepaid expenses $($See below$),?,],[$Income received in advance $($See below$),,?],[$Accrued income $($See below$),?,],[$Accrued expenses $($See below$),,?],[$Shareholders for dividends,,$48000],[2082000,2082000]]$

Additional information

Payments totalling R$30000,$ including R$10000$ for interest on loan, will be made to Vin Bank in the next financial year.

The following information must be used to identify the missing figures in the trial balance above:

$2\mathrm{.}1$ An amount of R$5000$ was owed to the municipality for rates.

$2\mathrm{.}2$ Sales commission of R$3000$ was owed to the company.

$2\mathrm{.}3$ The tenant paid the rent for July $2023$ to Oasis Limited on $27$ June $2023,$ R$4000.$

$2\mathrm{.}4$ Insurance paid for the next financial year amounted to R$6000.$