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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:
Capital -R88 000
Sundry creditors-5 080
Sundry debtors-3 748
Inventory-12 060
Bank (Dr)-5 316
Petty cash-200
Drawings-4 430
Loan from XY Bank-1 550
Furniture at cost-10 400
Land and buildings at cost-81 668
Required:
Question 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
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