Prepare the following accounts in the general ledger of Joni Traders as at 28 February 2021. Balance or close off the accounts.

3.1 Current a/c: John

3.2 Appropriation a/c

INFORMATION
The information given below was extracted from the accounting records of Joni Traders, a partnership business with John and Nick as partners.
Balances from the ledger of Joni Traders as at 28 February 2021
	Debit	Credit
	R	R
Capital: John		300 000
Capital: Nick		200 000
Current a/c: John (01 March 2020)		12 000
Current a/c: Nick (01 March 2020)	9 000
Drawings: John	80 000
Drawings: Nick	70 000

The following must be taken into account:
(a)	On 28 February 2010 the Profit and Loss a/c reflected a net profit of R616 000.
(b)	Partners are to receive interest at 12% p.a. on their capital balances.
(c)	Partners are entitled to the following monthly salaries: John R9 800 Nick R8 400
(d)	John is entitled to a special bonus of R49 000.
(e)	The remaining profit/loss must be shared between John and Nick in the ratio 3:2 respectively.
(f)	The drawings account of each partner must be transferred to their respective current accounts.

Use the information provided below to prepare the Statement of Financial Position (Balance Sheet) of Cadac Limited as at 31 May 2020.

INFORMATION
The following balances were obtained from the accounting records of Cadac Limited on 31 May 2020, the end of the financial year:
	R
Ordinary share capital	1 258 000
Long-term loan: Lendit Bank	50 000
11% Preference shares	600 000
Equipment	440 000
Retained profit	320 000

Accumulated depreciation on equipment	40 000
Vehicles	1 300 000
Inventory	370 000
Accumulated depreciation on vehicles	300 000
Creditors control	45 000
South African Revenue Services: Company tax payable	18 000
Debtors control	363 000
Bank (credit balance)	20 000
Cash float	3 000
Shares invested in XYZ Limited	200 000
Shareholders for dividends/Dividends payable	25 000

Calculate the following ratios for 2020 and in each case state whether there has been an improvement or deterioration in the ratio. Where applicable, express answers to two decimal places.

The ratios for 2019 are provided in brackets.

5.1 Gross profit margin (2019: 60.52%)

5.2 Trade receivables average number of days (2019: 35.28 days)

5.3 Return on capital employed (2019: 32.93%)

5.4 Current ratio (2019: 1.90:1)

5.5 Acid test ratio (2019: 0.96:1)

5.6 Debt to equity (2019: 89.48%)

5.7 Inventory average number of days (2019: 79.38 days)

INFORMATION
The following information was extracted from the financial statements of Jaguar Limited on 31 December 2020:
	R
Sales (all credit)	2 000 000
Cost of sales	900 000
Profit before interest and tax	500 000
Profit before tax	460 000
Profit after tax	322 000
Ordinary share capital	1 000 000
Retained profit	270 000
Inventory	400 000
Trade receivables	200 000
Cash and cash equivalents	100 000
Long-term loan	350 000
Trade payables	200 000
Property, plant and equipment	800 000
Long-term investments	320 000

Additional information
The following information was extracted from the financial statements of Jaguar Limited on 31 December 2019:
Inventory	R300 000
Trade receivables	R160 000