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Question 3 (20 marks) On 28 February 20.2 the profit or loss account of H Hilton shows a profit of R23 192. The Accounts below

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Question 3 (20 marks) On 28 February 20.2 the profit or loss account of H Hilton shows a profit of R23 192. The Accounts below with balances appear in the ledger on this day: R 88 000 5 080 Capital Sundry creditors Sundry debtors Inventory 3 748 12 060 Bank (Dr) 5 316 Petty cash 200 Drawings 4 430 1 550 Loan from XY Bank 10 400 Furniture at cost 81 668 Land and buildings at cost Required: (1) Give a summary of the financial position of H Hilton's entity on 28 February 20.2 as indicated in the statement of financial position. NB: No notes are required. Page 5

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