REQUIRED

Prepare the Statement of Financial Position of Oasis Limited as at $30$ June $2023.$

INFORMATION

OASIS LIMITED

POST$-$CLOSING TRIAL BALANCE AS AT $30$ JUNE $2023$

Debit Credit

R R

Ordinary share capital $1506000$

Retained earnings $240000$

Long term loan: Vin Bank $100000$

Land and buildings $1742000$

Equipment $150000$

Accumulated depreciation on equipment $80000$

Trading inventory $140000$

Debtors control $40000$

Provision for bad debts $2000$

Bank $7000$

Cash float $1000$

Creditors control $80000$

SARS: Company tax payable $10000$

Prepaid expenses $($See below$)?$

Income received in advance $($See below$)?$

Accrued income $($See below$)?$

Accrued expenses $($See below$)?$

Shareholders for dividends $48000$

$20820002082000$

Additional information

$1.$ Payments totalling R$30000,$ including R$10000$ for interest on loan, will be made to Vin Bank in

the next financial year.

$2.$ The following information must be used to identify the missing figures in the trial balance above:

$2\mathrm{.}1$ An amount of R$5000$ was owed to the municipality for rates.

$2\mathrm{.}2$ Sales commission of R$3000$ was owed to the company.

$2\mathrm{.}3$ The tenant paid the rent for July $2023$ to Oasis Limited on $27$ June $2023,$ R$4000.$

$2\mathrm{.}4$ Insurance paid for the next financial year amounted to R$6000.$