,10/12/23, 1:13 PM Assessment 4
b. The insurance amount of R2 400 includes a
premium of R200 for March 20.12.
c. The loan was obtained from Africa Bank on 1
September 20.11. The interest on the loan has
still to be paid.
d. Rent income for February 20.12 is still
outstanding.
e. Provision must be made for depreciation as
follows:
Vehicles – 20% per annum on the diminishing
balance method.
Furniture and fittings – 10% per annum on the cost
price.
Use the information provided to prepare the asset
section of the statement of nancial position of
Orange Traders as at 29 February 20.12.
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
If an options has been provided and it is not applicable
to the speci c questions please put a 0 in the amounts
column.
Keep the sequence strictly according to the
information given (under current assets bank should
be disclosed as the last item).
Non-current assets
Property, plant and equipment 288 040
Current assets
Land and buildings
Inventories 13 145
Current assets
Trade and other receivables 7 080
Cash float
Bank Prepayments 200
Accrued income
Cash and cash equivalent 8 275
Land, buildings and vehicles
Furniture and fittings
Trade receivables
Cash and cash equivalent
Accrued expenses
Trade and other receivables
Prepayments
Land, buildings, vehicles and furniture and fittings
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