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1.5.5 Study the following information and answer the questions that follow. Pixma Limited began operations in January 20.08 with R900 000 obtained from selling 450
1.5.5 Study the following information and answer the questions that follow. Pixma Limited began operations in January 20.08 with R900 000 obtained from selling 450 000 ordinary shares at an issue price of R2 each. During the year it purchased plant and equipment for R750 000 and land for R450 000, financing the purchase with a mortgage bond of R287 500, a long-term loan of R595 000, and cash for the balance. On 31 December 20.08: The amount owing by trade debtors totalled R43 000. R32 000 was owing to trade creditors. Inventories on hand amounted to R67 000. The bank balance was overdrawn by R24 000. Retained earnings at the end of the financial year amounted to R30 000. Calculate the following as at 31 December 20.08: 1 Own capital 2 Borrowed capital 3 Current assets 4 Non-current assets 5 Total assets 6 Equity Non-current liabilities 7 8 Current liabilities 9 Total liabilities
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