[100 MARKS Answer ALL questions below QUESTION 1 (20 Marks) The trial balance and additional information given below were extracted from the accounting records of Dysan Limited on 29 February 2020, the end of the financial year. REQUIRED Prepare the Statement of Financial Position as at 29 February 2020. The notes to the financial statements are not required. Show workings in brackets. INFORMATION DYSAN LIMITED PRE-ADJUSTMENT TRIAL BALANCE AS AT 29 FEBRUARY 2020 Debit (R) Credit (R) 200 000 62 000 180 000 120 000 90 000 38 000 70 000 32 000 4 000 182 000 2 000 40 000 10 000 80 000 485 000 Balance sheet accounts section Ordinary share capital (100 000 shares) Retained earings Vehicles at cost Equipment at cost Accumulated depreciation on vehicles Accumulated depreciation on equipment Trading inventory Debtors control Provision for bad debts Bank Cash float Creditors control South African Revenue Services: Company tax Long-term loan: Aries Bank (16% p.a.) Nominal accounts section Sales Cost of sales Sales returns Salaries and wages Bad debts Consumable stores Rent expense Motor expenses Bad debts recovered Telephone Electricity and water Bank charges Insurance Interest on mortgage loan Commission income 240 000 5 000 84 000 5 000 2 000 28 000 15 000 2000 7 000 11 000 3 000 4000 6 000 5 000 1 006 000 1 006 000 Ajuts and additional information 1 According to physical known awy 3020, trading on hand word RE000 Como used ting to try mounted to R200 on 29 February 2012 3 Nyhe made for common floscared but not concerns that were sold for RS nach Reche a cheque by Robinson dette, Marth, who was only able to pay 30% of her det The balance of her count must now be written off No es made for the action The provision for at det be decreased to R1 500 The telephone account for February 2020 was due to be paid on 02 March 2020,00 7 The rental agreements signed with the lessor landlords are as follow RX 000 for the period at January 2019 to 31 December 2019, and R36 000 for the period 01 January 2020 to 31 December 2020 Make the necessary adjustment B The loan from Are Blank was obtained on 01 September 2019. Provide for the outstanding interest interest is not captalised) Loan repayments (excluding interest are expected to amount to R12 000 in the next financial year The insurance total includes an annual premum of R1 800 that was paid for the period 01 June 2019 to 31 May 2020 TO The bank statement for February 2020 reflected bank charges of R100 that have not yet been recorded 11 The electricity and water statement for February 2020 included an amount of R1 000 for a depost required by the municipality. This was recorded in the water and electricity account 12. Provide for depreciabonas foliows 12.1 On equipment at 15% per annum on Dost 122 On whicles at 25% per annum on the diminishing balance. An account received from Heidi Motors to replace two tyres on the delivery vehide of the business, R2 000, has not been recorded 14 Company tax for the financial year amounted to R11 691 15 The directors proposed a final dividend of 18 cents per share. 16. The profitather tax for the year ended 29 February 2020, after taking the above adjustments into account, was R27 279