Prepare the Statement of Financial Position as at 29 February 2020. The notes to the financial statements are not required. Show workings in brackets. INFORMATION DYSAN LIMITED PRE-ADJUSTMENT TRIAL BALANCE AS AT 29 FEBRUARY 2020 Debit (R) Credit (R) Balance sheet accounts section Ordinary share capital (100 000 shares) 200 000 Retained earnings 62 000 Vehicles at cost 180 000 Equipment at cost 120 000 Accumulated depreciation on vehicles 90 000 Accumulated depreciation on equipment 38 000 Trading inventory 70 000 Debtors control 32 000 Provision for bad debts 4 000 Bank 182 000 Cash float 2 000 Creditors control 40 000 South African Revenue Services: Company tax 10 000 Long-term loan: Aries Bank (16% p.a.) 80 000 Nominal accounts section Sales 485 000 Cost of sales 240 000 Sales returns 5 000 Salaries and wages 84 000 Bad debts 5 000 Consumable stores 2 000 Rent expense 28 000 Motor expenses 15 000 Bad debts recovered 2 000 Telephone 7 000 Electricity and water 11 000 Bank charges 3 000 Insurance 4 000 Interest on mortgage loan 6 000 Commission income 5 000 1 006 000 1 006 000

Adjustments and additional information 1. According to physical stocktaking done on 29 February 2020, trading inventory on hand amounted to R68 000. 2. Consumable stores unused according to stocktaking amounted to R200 on 29 February 2020. 3. No entry has been made for a commission of 10% earned but not received on 500 items that were sold for R60 each. 4. Received a cheque for R600 from an insolvent debtor, J. Marsh, who was only able to pay 30% of her debt. The balance of her account must now be written off. No entries were made for these transactions. 5. The provision for bad debts must be decreased to R1 500. 6. The telephone account for February 2020 was due to be paid on 02 March 2020, R700. 7. The rental agreements signed with the lessor (landlord) are as follows: R30 000 for the period 01 January 2019 to 31 December 2019, and R36 000 for the period 01 January 2020 to 31 December 2020. Make the necessary adjustment. 8. The loan from Aries Bank was obtained on 01 September 2019. Provide for the outstanding interest. (Interest is not capitalised.) Loan repayments (excluding interest) are expected to amount to R12 000 in the next financial year. 9. The insurance total includes an annual premium of R1 800 that was paid for the period 01 June 2019 to 31 May 2020. 10. The bank statement for February 2020 reflected bank charges of R180 that have not yet been recorded. 11. The electricity and water statement for February 2020 included an amount of R1 000 for a deposit required by the municipality. This was recorded in the water and electricity account. 12. Provide for depreciation as follows: 12.1 On equipment at 15% per annum on cost. 12.2 On vehicles at 25% per annum on the diminishing balance. 13. An account received from Heidi Motors to replace two tyres on the delivery vehicle of the business, R2 000, has not been recorded. 14. Company tax for the financial year amounted to R11 691. 15. The directors proposed a final dividend of 18 cents per share. 16. The profit after tax for the year ended 29 February 2020, after taking the above adjustments into account, was R27 279.