Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ech Jun LXX 620analysis%20and%20company%20capital.pdf +A Read aloud Draw Highlight Statement of Financial Position's ledger balances as of 31 December 2019 (Figures in 000 R

image text in transcribedimage text in transcribedimage text in transcribed

ech Jun LXX 620analysis%20and%20company%20capital.pdf +A Read aloud Draw Highlight Statement of Financial Position's ledger balances as of 31 December 2019 (Figures in "000" R 43,000 Share capital-ordinary Erase A Equipment Prepaid insurance Inventory Bank R 20,000 5,600 Retained eamings 18,600 25,750 Bonds payable 50,000 30,500 Accounts payable 13,750 R104,850 Interest payable 2.500 R104,850 During 2020, the following transactions occurred. L Jimi paid R2 500 000 interest on the bonds on 1 January 2020. IL 111. IV. V VL VIL VIII IX. x Jimi purchased R241 500 000 (VAT inclusive) of inventory on account. Jimi sold for R448 500, 000 (VAT inclusive) on online transactions inventory which cost R250,000. 8. Jimi paid R230 000 000 on accounts payable. Jimi paid R2,500 000 interest on the bonds on 1 July 2020. The prepaid insurance (R5.600, 000) expired on 31 July. Received applications for 500 000 ordinary shares on 31 July. Share applicants paid the stated value of R5 per share. The allotment took place on 28 August 2020. The company has authorised share capital of 5 000 000 ordinary shares and 1 000 000, 5% Preference shares. No preference shares have been issued. On 1 August, Jimi paid R12 000 000 for insurance coverage from 1 August, 2020, through 31July 2021. I Jimi paid R27.000 000 VAT to the SARS Paid other operating expenses, R91.000.000 0 0 de on 1040

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: George H. Bodnar, William S. Hopwood

11th Edition

0132871939, 978-0132871938

More Books

Students also viewed these Accounting questions

Question

Give a proof of Theorem 6.4.

Answered: 1 week ago