The following list of balances for the year ended 30 June 2021 was taken from the...

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The following list of balances for the year ended 30 June 2021 was taken from the records of Jay Z Ltd Share capital General reserve Retained income - 01/07/2020 Share premium Long-term loan Provision for accumulated depreciation: Plant and equipment Vehicles Provision for bad debts Creditors Land and buildings at cost Plant and equipment at cost Vehicles at cost Listed investment at cost Inventory - 30/06/2021 Debtors Cash at bank Provisional tax payments Sales Dividends received Purchase Administrative expenses Depreciation: Plant and equipment gems e R 60 000 20 000 6 000 5 000 20 000 24 000 3 000 1 600 25 000 89 200 64 000 10 000 5 000 6 000 16 000 3 000 9 000 150 000 2 500 90 000 15 500 6 400 8°℃ Plant and equipment Vehicles Dividends paid - preference shares NQF / PROVIDER EXAM-JUNE 2022 The following additional information is also available: Interest on the long-term loan at 10% per annum is payable monthly in arrears. The capital portion of the loan is repayable in annual instalments of R2 500 commencing on 30 June 2021. The loan is secured by a mortgage bond over land and buildings. 1. 2. FINANCIAL ACCOUNTING 2 gems Land and buildings consist of freehold land with a factory building erected on it, acquired on 16 July 2019. The land and buildings are situated at 16 Coventry Road, Salt Lake City. The land and buildings have been mortgaged as per note 1 above. W 6 400 2 000 1.000 PAGE 8 OF 13 8°C 2. 3. monthly in arrears. The capital portion of the loan is repayable in annual instalments of R2 500 commencing on 30 June 2021. The loan is secured by a mortgage bond over land and buildings. Land and buildings consist of freehold land with a factory building erected on it, acquired on 16 July 2019. The land and buildings are situated at 16 Coventry Road, Salt Lake City. The land and buildings have been mortgaged as per note 1 above. Depreciation rates are as follows: a. b. C. Land and buildings - not depreciated. Plant and equipment - 10% per annum on cost. Motor vehicles - 20% per annum on cost Required Draw up a balance sheet at 30 June 2021 in accordance with the requirements of the Companies Act and generally accepted accounting practice; present and disclose only Property Plant and Equipment. QUESTION 3 [15] The following list of balances for the year ended 30 June 2021 was taken from the records of Jay Z Ltd Share capital General reserve Retained income - 01/07/2020 Share premium Long-term loan Provision for accumulated depreciation: Plant and equipment Vehicles Provision for bad debts Creditors Land and buildings at cost Plant and equipment at cost Vehicles at cost Listed investment at cost Inventory - 30/06/2021 Debtors Cash at bank Provisional tax payments Sales Dividends received Purchase Administrative expenses Depreciation: Plant and equipment gems e R 60 000 20 000 6 000 5 000 20 000 24 000 3 000 1 600 25 000 89 200 64 000 10 000 5 000 6 000 16 000 3 000 9 000 150 000 2 500 90 000 15 500 6 400 8°℃ Plant and equipment Vehicles Dividends paid - preference shares NQF / PROVIDER EXAM-JUNE 2022 The following additional information is also available: Interest on the long-term loan at 10% per annum is payable monthly in arrears. The capital portion of the loan is repayable in annual instalments of R2 500 commencing on 30 June 2021. The loan is secured by a mortgage bond over land and buildings. 1. 2. FINANCIAL ACCOUNTING 2 gems Land and buildings consist of freehold land with a factory building erected on it, acquired on 16 July 2019. The land and buildings are situated at 16 Coventry Road, Salt Lake City. The land and buildings have been mortgaged as per note 1 above. W 6 400 2 000 1.000 PAGE 8 OF 13 8°C 2. 3. monthly in arrears. The capital portion of the loan is repayable in annual instalments of R2 500 commencing on 30 June 2021. The loan is secured by a mortgage bond over land and buildings. Land and buildings consist of freehold land with a factory building erected on it, acquired on 16 July 2019. The land and buildings are situated at 16 Coventry Road, Salt Lake City. The land and buildings have been mortgaged as per note 1 above. Depreciation rates are as follows: a. b. C. Land and buildings - not depreciated. Plant and equipment - 10% per annum on cost. Motor vehicles - 20% per annum on cost Required Draw up a balance sheet at 30 June 2021 in accordance with the requirements of the Companies Act and generally accepted accounting practice; present and disclose only Property Plant and Equipment. QUESTION 3 [15]

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balance sheel for the year exaking Amound yeal breaking 30Jun 2021 liabi... View the full answer