Question: REQUIRED Use the information provided below to prepare the Statement of Financial Position of Trent Limited as at 31 July 2023. The notes to the


REQUIRED Use the information provided below to prepare the Statement of Financial Position of Trent Limited as at 31 July 2023. The notes to the financial statements are not required. INFORMATION Adjustments and additional information The proft after tax for the yoar ended 31 July 2023 amounted to R392 100. The following adjustrnents were made to the incorre and expenses but not to the balanco sheet accounts: 1. A physical stocktake on 31 July 2023 reveated the following 1.1. Trading inventory ca hand amounted to R1 050000 . 12 Stationery unused amounted to R2 000 2. Rent for August 2023 was roceived and recorded on 31 July 2023, R14 000 . 3. Dividends of 70 cents per share are due trom ABC Linted. 4. Commission on sales of R30 000 is owed to the salespersons. 5. Equipment, cost price R120 000, was purchased on credit on 01 July 2023 but no entry has been made for this. Depreciation on equipment is calculated at 15% p.a on cost and on wehicles at 20% p.a. on the diminishing balance. 6. The bank staterrent was recelved after the trial balance was prepared and it refected bank charges of R1 800 . 7. The provision for bad debts must be adjusted to 5% of debtors 8. Two of the drectors of the company are owod remunesation of R20 000 each. 9. Based on the profit for the year, an amount of R30 000 is stll owed to South African Revenue Services 10. The directors declared a fral dividend of 12 cents por share. The interim dividend amounted to R100000
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