REQUIRED Use the information provided below to prepare the Statement of Financial Position of Dunedine Traders as at 30 June 2022. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Dunedine Traders after all the adjustments and closing transfers were completed on 30 June 2022, the end of the financial year.

	R
Inventory	420 000
Debtors control	120 000
Loan: Wespac Bank	300 000
Equipment	2 640 000
Accumulated depreciation on equipment	240 000
Cash float	18 000
Creditors control	272 000
Provision for bad debts	?
Accrued income	12 000
Ordinary share capital (200 000 shares)	1 548 000
Retained earnings	720 000
New Zealand Revenue Services: Company tax payable	?
Bank (DR)	132 000
Accrued expenses	84 000
Shareholders for dividends/Dividends payable	?

Additional information 1.The tax calculated on the pre-tax profit for the year amounted to R180 000. Provisional company tax payments for the year ended 30 June 2022 totalled R156 000.

2.Dividends for the year: 2.1 Interim dividend paid on 31 December 2021: 40 cents per share. 2.2Final dividend declared on 30 June 2022: 74 cents per share.

3.The provision for bad debts balance on 30 June 2021 was R5 000. The provision for bad debts is calculated at 5% of book debts.

4.Payments totalling R76 000 to Westpac Bank, including R36 000 for interest, will be made during the next financial year.

Answer Sheet:

Dunedine Traders
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2022
ASSETS	Workings (If any)	R
Non-current assets
Property, plant and equipment
Current assets
Inventories
Trade and other receivables
Trade debtors
Cash and cash equivalents
Bank
Total assets
EQUITY AND LIABILITIES
Equity
Ordinary share capital
Retained earnings
Non-current liabilities
Loan: Westpac Bank
Current liabilities
Trade and other payables
Trade creditors
NZRS: Company tax
Total equity and liabilities