QUESTION ONE (16 MARKS)

The following list of accounts appeared on XYZ Traders on 31 December 2021:

RCreditors control 4 000Debtors control 3 500Cash 6 000Equipment 7 000Long-term loan 6 500Capital?Salaries Payable 2 000Inventory 2 500Long-term Investment4 500

Additional information:

1. The following balances appeared on XYZ Traders on 1 January 2021:

Capital R5 000

Accounts payables R2 500

Equipment at cost R6 000

1. The profit for the year ended 31 December 2021 was R2 000.
2. The owner took R1 200 cash from the business for personal use during the current financial year.
3. Inventory balance on 1 January 2021 was R1 000.

REQUIRED:

Prepare the following for XYZ Traders:

1. Statement of Financial Position as at 31 December 2021 and
2. Statement of Changes in Equity for the year ended 31 December 2021

QUESTION ONE (16 MARKS) Additional information: 1. The following balances appeared on XYZ Traders on 1 January 2021: 2. The profit for the year ended 31 December 2021 was R2 000 . 3. The owner took R 1200 cash from the business for personal use during the current financial year. 4. Inventory balance on 1 January 2021 was R1 000. REQUIRED: Prepare the following for \\( X Y Z \\) Traders: 1.1 Statement of Financial Position as at 31 December 2021 (11 Marks) 1.2 Statement of Changes in Equity for the year ended 31 December 2021