Information: The following is Mandela statement of financial position for the year ended 31 December 2022 2021 Assets Non-Current assets Property plant and equipment Investments Current assets Cash and cash equivalents Inventory Trade receivable Total Assets Equity and reserves Share Capital Retained Earnings Non-current liabilities Debentures Current liabilities Bank overdraft Shareholders for dividend Trade and other payables 2022 1 146 000,00 996 000,00 150 000,00 834 000,00 48 000,00 480 000,00 306 000,00 1 980 000,00 1 134 000,00 600 000,00 534 000,00 300 000,00 300 000,00 546 000,00 24 000,00 522 000,00 1 980 000,00 1 254 000,00 1 134 000,00 120 000,00 975 000,00 750 000,00 225 000,00 2 229 000,00 996 000,00 600 000,00 396 000,00 240 000,00 240 000,00 993 000,00 330 000,00 18 000,00 645 000,00 2 229 000,00 Additional information • The following balances are available for 31 December 2022 i) Inventory R480 000 Trade receivables R306 000 iii) Trade payables R522 000 • Turn over for the year ended 31 December 2022 amounted to R12 000 000. The gross profit percentage is 25% • Half of the turnover is credit sales and 75% of purchases are credit purchases.

Information: The following is Mandela statement of financial position for the year ended 31 December 2022 2021 Assets Non-Current assets Property plant and equipment Investments Current assets Cash and cash equivalents Inventory Trade receivable Total Assets Equity and reserves Share Capital Retained Earnings Non-current liabilities Debentures Current liabilities Bank overdraft Shareholders for dividend Trade and other payables 2022 1 146 000,00 996 000,00 150 000,00 834 000,00 48 000,00 480 000,00 306 000,00 1 980 000,00 1 134 000,00 600 000,00 534 000,00 300 000,00 300 000,00 546 000,00 24 000,00 522 000,00 1 980 000,00 1 254 000,00 1 134 000,00 120 000,00 975 000,00 750 000,00 225 000,00 2 229 000,00 996 000,00 600 000,00 396 000,00 240 000,00 240 000,00 993 000,00 330 000,00 18 000,00 645 000,00 2 229 000,00 Additional information • The following balances are available for 31 December 2022 i) Inventory R480 000 Trade receivables R306 000 iii) Trade payables R522 000 • Turn over for the year ended 31 December 2022 amounted to R12 000 000. The gross profit percentage is 25% • Half of the turnover is credit sales and 75% of purchases are credit purchases.

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Description: Please do not give solution in image format thanku Information:The following is Mandela statement of financial position for the year ended 31 December 202220222021AssetsNon-Current assetsProperty plant and equipmentInvestmentsCurrent assetsCash and c

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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