Mojo and Jacob won a exotic mining services contract in Putja (Dubai) and decided to start a business, trading as Monsters. The entity provides safety and maintenance services to a coal mine in the area. The following information pertains to the business activities of the partnership for the year ended 28 February 2021:

1. Extracted list of balances as at 28 February 2021:

	R
Land and buildings at cost	2 430 400
Equipment at cost	347 200
Vehicles at cost	486 100
Accumulated depreciation: Equipment	104 300
Accumulated depreciation: Vehicles	118 100
Accumulated depreciation: Buildings	208 400
Investments	1 222 100
Mortgage	1 999 800
Loan from Tsholo	333 300
Inventory	20 900
Trade debtors control	769 200
Allowance for settlement discount granted	8 200
Allowance for credit losses	8 000
Petty cash	10 900
Prepayments	10 200
Capital: Tsholo	310 500
Capital: Kele	724 500
Current account: Tsholo (Dr) (1 March 2020)	94 300
Current account: Kele (Dr) (1 March 2020)	110 400
Trade creditors control	117 300
Accrued expenses (Advertising)	15 900
Bank overdraft	158 200
Profit for the year (before year-end adjustments)	451 300

2. Terms of the partnership agreement

2.1 Interest is calculated at 7% and 8% per annum on the partners opening capital and current account balances respectively.

2.2 Each partner is entitled to a salary of R87 000 per annum.

3 Additional information (year-end adjustments)

3.1 Investments comprise of

• 120 000 shares in MTP Ltd bought for a total amount of R228 000 on 1 April 2020. These shares were trading at 2.5 per share on 28 February 2021. A dividend of 40 cents per share was declared by MTP Ltd on 28 February 2021 and the payment is expected to be received on 31 March 2021.
• An investment in Khabo (Pty) Ltd made on 5 May 2019.

3.2 Tsholo granted an unsecured loan on 1 January 2021 to the partnership. According to the terms of the loan, interest is calculated at a rate of 16% per annum and is paid on 31 December of every year. The total capital amount of the loan will be repaid in full on 31 December 2024. Interest for the current financial year must still be provided.

3.4 The mortgage loan from Tototo Bank was acquired on 1 July 2020 and bears interest at 6% per annum. The interest on this loan is payable on 30 June every year. The loan is secured by a first mortgage over land and buildings and is repayable in ten equal annual instalments, starting on 30 June 2021.

ratio 3:2

Which alternative represents the correct amount for partners current account in the statement of financial position of Nandoni as at 28 February 2021?

• A.

  205 720

• B.

  141 553

• C.

  114 520

• D.

  232 753

Which alternative represents the correct amount for trade and other receivables in the notes to the financial statements of Nandoni as at 28 February 2021?

• A.

  753 000

• B.

  801 000

• C.

  865 900

• D.

  913 900