The following trial balance is for Springbok Traders (Pty) Ltd as at their financial year end...

 

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The following trial balance is for Springbok Traders (Pty) Ltd as at their financial year end 30 June 2019. Shareholder's Capital Drawings Land and Buildings Cost Vehicles Cost Computer Equipment Cost Accumulated Depreciation on Vehicles Accumulated Depreciation on Computer Equipment Fixed Deposit Debtors Stock Staff Loans Bank Long Term Loan: Capital Bank Accrued Expenses Creditors Sales Cost of Sales Motor Insurance Salaries and Wages Stationery PAYE/UIF/SOL Fuel interest on Loan interest on Fixed Deposit Discount Received Bad Debts Recovered Debit 150 000 545 000 470 000 130 000 123 500 134 560 237 560 15 000 435 000 24 500 326 000 8 800 37 540 47 000 5 700 Credit 940 000 321 000 87 500 21 360 250 000 32 000 215 000 790 500 4500 4400 23 900 2 690 160 2 690 160 Required: Prepare the Statement of Comprehensive Income and the Statement of Financial Position for Springbok Traders (Pty) Ltd as of 30 June 2019. Use the template provided on the diagram sheet. [35] The following trial balance is for Springbok Traders (Pty) Ltd as at their financial year end 30 June 2019. Shareholder's Capital Drawings Land and Buildings Cost Vehicles Cost Computer Equipment Cost Accumulated Depreciation on Vehicles Accumulated Depreciation on Computer Equipment Fixed Deposit Debtors Stock Staff Loans Bank Long Term Loan: Capital Bank Accrued Expenses Creditors Sales Cost of Sales Motor Insurance Salaries and Wages Stationery PAYE/UIF/SOL Fuel interest on Loan interest on Fixed Deposit Discount Received Bad Debts Recovered Debit 150 000 545 000 470 000 130 000 123 500 134 560 237 560 15 000 435 000 24 500 326 000 8 800 37 540 47 000 5 700 Credit 940 000 321 000 87 500 21 360 250 000 32 000 215 000 790 500 4500 4400 23 900 2 690 160 2 690 160 Required: Prepare the Statement of Comprehensive Income and the Statement of Financial Position for Springbok Traders (Pty) Ltd as of 30 June 2019. Use the template provided on the diagram sheet. [35]

Answer rating: 100% (QA)

Answer Solution Income Statement Sales 790500 Less Cost of Sales 4350004400 430600 Gross Profits 359... View the full answer