Question
1.3 JUPITER LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 202 1 Workings (if any) R ASSETS Non-current assets Property, plant and equipment Current
1.3
| JUPITER LIMITED | ||
| STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 | ||
|
| Workings (if any) | R |
| ASSETS |
|
|
| Non-current assets |
|
|
| Property, plant and equipment |
|
|
| Current assets |
|
|
| Inventories |
|
|
| Accounts receivable |
|
|
| Cash |
|
|
|
|
|
|
| EQUITY AND LIABILITIES |
|
|
| Equity |
|
|
| Non-current liabilities |
|
|
| Loan |
|
|
| Current liabilities |
|
|
| Accounts payable |
|
|
|
|
|
|
REQUIRED Use the information provided below to prepare the Statement of Financial Position as at 31 December 2021 using the percentage-of-sales method. (7 marks) INFORMATION Jupiter Limited's Pro Forma Statement of Financial Position as at 31 December 2020 is as follows: Statement of Financial Position as at 31 December 2020 ASSETS R Non-current assets 2 000 000 Property, plant and equipment 2 000 000 Current assets 4 250 000 Inventories Accounts receivable 2 000 000 750 000 1 500 000 Cash 6 250 000 EQUITY AND LIABILITIES Equity Non-current liabilities 5 450 000 250 000 Loan 250 000 Current liabilities 550 000 Accounts payable 550 000 6 250 000 Additional information The sales for the year ended 31 December 2020 amounted to R20 000 000. Sales are expected to increase by R4 000 000 during 2021
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Fundamentals Of Investments Valuation And Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
10th Edition
1266824014, 9781266824012
