Question
Prepare the Statement of Financial Position of Concha Traders as at 28 February 2017. The notes to the financial statements are not required. Where applicable,
Prepare the Statement of Financial Position of Concha Traders as at 28 February 2017. The notes to the financial statements are not required. Where applicable, show calculations in brackets.
INFORMATION CONCHA TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2017
| Debit (R) | Credit (R) |
Balance sheet accounts section |
|
|
Capital |
| 162 000 |
Drawings | 70 000 |
|
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 |
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