Answer Happy

Statement of comprehensive income income statement) and statement of financial position (balance sheet) of MAN206 (Pty) Ltd. 2019 dr 2019 CV 5792 14520 1520 21450 137852 2500 29542 145289 2305000 120850 21589 600 612057 150000 TRIAL BALANCE Arear expenses Bank chargers Bank balance (overdrawn) Electricity Debtors Deposits Repairs Rent paid Cost of sales Commission paid Creditors Members' contribution Distributable reserves Long-term loan Wages and salaries Accountant fees Interest paid Interest received Accumulated loss the previous year Security Cleaning costs Stationery Regional Services Council levies Telephone Inventory Fixed assets - cost price - depreciation Sales Transport and deliveries Insurance Depreciation 945871 15984 28000 485 425870 8900 8520 1582 6029 15280 458970 625000 4875128 55663 35799 258700 5667171 5667171
Statement of financial positional position (balance sheet) as at 28 February 2019 2018 R 2017 R EMPLOYMENT OF CAPITAL 625000 633795 327258 Non-current assets Current assets Inventory Debtors Deposits investment) Bank Balance 599322 458970 137852 2500 0 175000 27000 2500 122758 TOTAL ASSETS 1224322 961053 250 -425870 Members' contribution Accumulated loss Distributable reserves Members' interest Non-current loan debt Current liabilities Creditors Arear expenses Bank overdraft 600 432764 612057 1045421 150000 28901 21589 5792 1520 712865 287245 365000 265839 244969 8100 0 EQUITY AND LIABILITIES 1224322 918084
MAN206 (Pty) Ltd Statement of comprehensive income income statement) for the year ending 28 February 2019 2018 R 2017 R INCOME Sales Less: cost of sales Gross income Interest received 4875128 2305000 2570128 485 1956888 1062193 894695 178 930210 9843 12725 EXPENDITURE Bank charges Electricity Repairs Rent paid Commission paid Wages and salaries Accountant's fees Security Cleaning costs Stationery Regional Services Council levies Telephone Transport and deliveries Insurance Depreciation 1711979 14520 21450 29542 145289 120850 945871 15984 8900 8520 1582 6029 15280 55663 35799 258700 10890 104853 30000 425843 4500 1748 1845 1310 3125 5770 31405 32325 225513 NET PROFIT 7 (LOSS) BEFORE INTEREST 886634 -6820 Less: Interest paid 28000 28518 NET PROFIT / (LOSS) AFTER INTEREST 858634 -35338
Sales budget Q1 Q2 Q3 Q4 Yearly Units sold 5,500.00 6,700.00 7,900.00 9,100.00 29,200.00 Selling price per unit 120.00 120.00 120.00 120.00 Total sales 660,000.00 804,000.00 948,000.00 1,092,000.00 3,504,000.00 Cash sales at 25% 165,000.00 201,000.00 237,000.00 273,000.00 876,000.00 Credit sales at 75% 495,000.00 603,000.00 711,000.00 819,000.00 2,628,000.00 Cash collections schedule Q1 Q2 Q3 Q4 Yearly Accts Rec Balance Forward 137,852.00 137,852.00 Cash sales 165,000.00 201,000.00 237,000.00 273,000.00 876,000.00 First quarter sales 495,000.00 495,000.00 Second quarter sales 603,000.00 603,000.00 Third quarter sales 711,000.00 711,000.00 Total cash collections 302,852.00 696,000.00 840,000.00 984,000.00 2,822,852.00