This is the trial balance of Tembo Ltd for the year ended 28 February 20x0:

Additional information:

• The managers transferred an amount of R50 000 to the asset replacement reserve.

You are required to:

Draft the statement of financial position, statement of profit or loss & other comprehensive income and statement of changes in equity for Tembo Ltd for internal use for the year ended 28 February 20x0.

• Notes to the financial statements are not required.

• Ignore tax implications and depreciation.

Transcribed Image Text:

TRIAL BALANCE OF TEMBO LTD AS AT 28 FEBRUARY 20x0 Details Fol. Debit R'000 B 1 200 00 B 1 000 00 360 00 450 00 210 00 120 00 Machinery Vehicles Investments Accounts receivable Bank Inventory Accounts payable Ordinary share capital Retained earnings (1 March 19x9) Asset replacement reserve (1 March 19x9) Revenue from sales Cost of sales Administration expenses Operating expenses Finance expenses Selling expenses 333333 BNN B B B B B B B N N ZZZ N N 450 00 140 00 230 00 30 00 50 00 5 240 00 Credit R'000 320 00 1 050 00 1 350 00 20 00 2 500 00 5 240 00