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ASSIGNMENT: BCOM FIN MAN -FINANCIAL MANAGEMENT 18 (RESUB) 2017 INTAKE QUESTION 1 FINANCIAL STATEMENTS OF A SOLE PROPRIETORSHIP (20 MARKS) Use the information given below to prepare the Statement of Financial Position of Minton Traders as at 29 February 2016. The notes to the financial statements are not required INFORMATION Extract from the accounting records of Minton Traders on 29 February 2016 after the Statement of Comprehensive Income was drawn up Consumable stores on hand Accrued expenses Prepaid expenses Cash float Bank (CR eat 12 000 2 000 6 000 30 000 100 000 1 000000 480 000 200 000 1178 000 160 000 40 000 8 000 16 000 140 000 Fixed deposit: EFT Bank eu ON Cunees Capital (01 March 2015)utt Drawings uL Loan: EFT Bank Property, plant and equipment Creditors control rorelc Debtors control rople ecewAue Accrued income ssned asso /1 Income received in advance Trading inventoryAesecsurcrd Additional information that must be taken into account According to the Statement of Comprehensive Income the net profit for the year ended 29 February 2016 amounted to R540 000. The proprietor took R6 000 trading goods for his personal use after stocktaking was done but this has not been recorded Payments amounting to R36 000, including interest of R12 000, will be made to EFT Bank towards the loan in the next financiaLyear... Sixty percent (60%) of the fixed deposit matures on 31 May 2016 and the balance matures - . es pense Ldeeest

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