Question 1 The Trial balance for Thabo's Trading as on 31 December 2021 is given below: Capital 57,800 Drawings 7,500 Eq

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Question 1 The Trial Balance For Thabo S Trading As On 31 December 2021 Is Given Below Capital 57 800 Drawings 7 500 Eq 1 (73.94 KiB) Viewed 26 times

Question 1 The Trial balance for Thabo's Trading as on 31 December 2021 is given below: Capital 57,800 Drawings 7,500 Equipment 68,000 Accumulated Depreciation on equipment 10,200 Loan (7.5% p.a.) 30,000 Trading Stock 17,200 Fixed Deposit (12% p.a.) 10,000 Debtors Control (Trade Receivables) Creditors Control (Trade Payables) 15,400 16,300 Bank 6,200 Sales 135,000 Cost of Sales 90,000 8,000 General Expenses Wages and Salaries 24,500 Interest Income 250 Interest of Loan 2,250 Thabo's Trading had their financial year end on 31 March 2021. Use the trial balance to prepare the following financial statements for the business: a) Balance sheet (12) b) Income Statement (18) c) Formulas (4) [34] Page 2 of 3 Question 2 Use the financial statements that you prepared for Thabo Traders in Question 1 and calculate the following: