Q.2.1 The following balances appeared in the books of Argon Traders on 28 February 2022: Vehicles Capital Drawings Land and buildings Mortgage loan Sales Debtors Creditors Interest on fixed deposit Interest on mortgage loan Petty Cash Fixed Deposit Cost of Sales Rent Income Bank Overdraft (R) 200 000 350 000 75 000 1 000 000 120 000 100 000 60 000 35 000 5 000 12 000 2 500 50 000 50 000 80 000 20 000

The following balances appeared in the books of Argon Traders on 28 February Required: Q.2.1 For each of the items listed above categorise them into the 5 accounting elements (assets, equity, liabilities, expense and income). Prepare the following table in your answer booklet to complete your answer: Note: each account can fit under one element only. If an account is put under more than one element no marks will be awarded. Q.2.2 Using the balances above calculate the following: - Total value of non-current assets - Total value of current assets - Total value of non-current liabilities - Total value of current liabilities - Owner's equity (use the formula: OE=AL )