Prepare the Statement of Financial Position as at $29$ February $2024.$

INFORMATION

The trial balance, additional information and adjustments given below were obtained from the records of Torga Traders on $29$ February $2024,$ the end of the financial year.

$\backslash$table$[[$TORGA TRADERS,$],[$PRE$-$ADJUSTMENT TRIAL BALANCE AS AT $29$ FEBRUARY $2024,,],[,$Debit $($R$),$Credit $($R$)],[$Balance sheet accounts section,,$],[$Capital$,,3530000],[$Drawings$,362000,],[$Land and buildings at cost$,2340000,],[$Equipment at cost$,1600000,],[$Vehicles at cost$,1000000,],[$Accumulated depreciation on equipment,,$504000],[$Accumulated depreciation on vehicles,,$252000],[$Fixed deposit: Zap Bank $(9\%$ p$.$a$.),100000,],[$Trading inventory,$244000,],[$Debtors control,$302000,],[$Bank$,,98000],[$Cash float,$2000,],[$Creditors control,,$376000],[$Loan: Zap Bank $(18\%$ p$.$a$.),,184000],[,,],[$Nominal accounts section,,$],[$Sales$,,4086000]]\backslash$table$[[$Nomiliar acrotants sactlant,,$],[$Sirg$,,$H$^(\text{'})$ROWM$],[$F$\backslash$oo $=$ s$=4$ t$,$IYNSM,$],[$S$==$ Ditant,ZQSW$,],[$NAtipha$|,$EM$|$W$|,],[,$IMW$|,]]$

$\backslash$table$[[$m$,14,,],[,2\backslash$pi ind,$],[6$s$$oumfinte$=$vwa,,$14\backslash$pi hat$(\backslash$pi $)],[$Einsinciv man w$$im$,15\backslash$bar $($M$)100,],[,,4($MWD$],[,$E$,$W$,],[|$ro$,,],[,$HENTWI,$],[$Bmk pi m$\_=\backslash$eta $,$falow,$],[,,1$NN NOM$],[,$FiSWW,$],[,,]]$Additional information and adjustments

The bookkeeper did not record the following debit entries that appeared on the February $2024$

bank statement:

$1\mathrm{.}1$ Bank charges R$1400$

$1\mathrm{.}2$ Interest on overdraft R$200$

The financial year$-$end inventory count revealed the following inventories:

$2\mathrm{.}1$ Trading inventory $,$ R$240000$

$2\mathrm{.}2$ Stationery $,R1000$

Vehicles are to be depreciated at $R150000$ per year.

Depreciation on equipment amounted to R$219200.$

Provide for R$5000$ outstanding interest on the fixed deposit. Interest is not capitalised. The

investment in fixed deposit was made on $01$ March $2023$ and it matures on $28$ February $2026.$

The loan was obtained from Zap Bank on $01$ February $2024.$ Provide for the outstanding interest

for February $2024,$ R$2760.$ Interest is not capitalised. Repayments $($excluding interest$)$ totalling

R$24000$ are expected to be made during the financial year ended $28$ February $2025.$

The tenant has already paid the rent of $R10000$ for the first month of the next financial year.

The municipal rates statement for the year ended $29$ February $2024$ reflected that R$6000$ was

paid in advance for the next financial year.

A debtor who owed R$2000$ was declared insolvent. Her account must now be written off.

A provision for bad debts of $R15000$ must be created.