Exam (elaborations)
MANCOSA FIN REP & ANALYSIS UNIT 2 ACTIVITIES
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Page 1 of 3FINANCIAL REPORTING AND ANALYSIS
UNIT 2: ACTIVITIES
REQUIRED
Use the information provided below to prepare the following financial statements:
1. Statement of Comprehensive Income for the year ended 28 February 2023.
2. Statement of changes in Equity for the year ended 28 February 2023.
3. Statement of Financial Position as at 28 February 2023.
INFORMATION
The trial balance, adjustments and additional information were extracted from the accounting records
of Aquelle Traders on 28 February 2023, the end of the financial year.
AQUELLE TRADERS
PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2023
Debit (R) Credit (R)
Balance sheet accounts section
Capital 870 700
Drawings 234 000
Land and buildings 608 700
Vehicles at cost 275 000
Equipment at cost 203 000
Accumulated depreciation on vehicles 94 000
Accumulated depreciation on equipment 70 000
Trading inventory 140 000
Debtors control 103 000
Provision for bad debts 5 000
Bank 4 000
Cash float 1 500
Petty cash 500
Creditors control 60 000
Loan: Tek Bank 96 000
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