Prepare the statement statement of financial position

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Reference no: EM132756128

Question: Prepare the statement Statement of financial position as at 29 February 2020.. extracted from the accounting records of Susan limited.

1. according to physical stock taking done on February 2020, trading inventory on hand amounted to R 68 000

2. Consumable stores unused R200

3. 10% earned but not received on R 500 items that were sold for R600 each.

4. Received a cheque for R600 from insolvent debtor, only paid 30% of debt.

5. Bad debts decreased to R 1500.

6. Rental agreement signed

R 30 000 for the period 01 January 2019 to December 2019 and R 36 000 for the period of January 2020 to 31 December 2020.

8. Loan repayments expect ed to R 12000

9. Insurance annual premium R1800

10. bank charges of R180

11. Electricity and water statement required by municipality R 1000.00

12. Provide for depreciation

On equipment 15% per annum cost.

On vehicles at 25% per annum on the diminishing balance

Reference no: EM132756128

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