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kindly assist I am a beginner SECTION A [30 MARKS] Answer ALL the questions in this section. Question 1: Financial Accounting Information (12 Marks) ABC
kindly assist I am a beginner
SECTION A [30 MARKS] Answer ALL the questions in this section. Question 1: Financial Accounting Information (12 Marks) ABC Traders is an entity that sells electronic equipment. The entity is not registered as a VAT vendor. The financial yearend of ABC Traders is 28 February of each year. The following trial balance was extracted from the financial records of ABC Traders: ABC Trader Pre-adjusted trial balance as at 28 February 2021 The mortgage with an interest rate of 9% p.a. is repayable over a period of 20 years. The capital that will be repaid from 1 March 2021 to 28 February 2022 will amount to R9 000. No interest was due at the end of the 2011 financial year. REQUIRED:Prepare the statement of financial position of ABC Traders for the year ended 28 February 2021 . Your answer should comply with the requirements of International Financial Reporting Standards (IFRS) Comparative figures are not required. The notes to the statement of financial position are not required. Note: Show all your calculationsStep by Step Solution
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