Question 2 Coconut Limited produces vegan snacks for distribution to various retailers a The following is the trial balance of Coconut Limited for the year ended 28 February 2022: Credit Debit Account Name 14 000 Inventory 22 000 Trade receivables Revenue Cost of sales Property, plant and equipment (Carrying value) Telephone expense Revaluation reserve Salaries and wages Trade payables Retained earnings-1 March 2021 Share capital Advertising expenses Depreciation Loan Bank 5 000 Finance income 10 000 Additional Information: . The outstanding loan is payable over the next three years in the following ratio 30: 20:50. Inventory with a cost price of R10 000 (Selling price of R15 000) was returned by a debtor. This entry has not yet been accounted for. . 10 000 shares were issued on 28 February 2022 at R2 each for cash. This entry has not yet been accounted for. The revaluation reserve is due to land being revalued two years ago. . 550 000 42 000 7500 250 000 20 000 65 000 757 500 2 000 85 000 16 000 50 000 55 000

Question 2 Coconut Limited produces vegan snacks for distribution to various retailers a The following is the trial balance of Coconut Limited for the year ended 28 February 2022: Credit Debit Account Name 14 000 Inventory 22 000 Trade receivables Revenue Cost of sales Property, plant and equipment (Carrying value) Telephone expense Revaluation reserve Salaries and wages Trade payables Retained earnings-1 March 2021 Share capital Advertising expenses Depreciation Loan Bank 5 000 Finance income 10 000 Additional Information: . The outstanding loan is payable over the next three years in the following ratio 30: 20:50. Inventory with a cost price of R10 000 (Selling price of R15 000) was returned by a debtor. This entry has not yet been accounted for. . 10 000 shares were issued on 28 February 2022 at R2 each for cash. This entry has not yet been accounted for. The revaluation reserve is due to land being revalued two years ago. . 550 000 42 000 7500 250 000 20 000 65 000 757 500 2 000 85 000 16 000 50 000 55 000

Name: 22Question 2Coconut Limited produces vegan snacks for distribution to
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Description: 22Question 2Coconut Limited produces vegan snacks for distribution to various retailers across the country.The following is the trial balance of Coconut Limited for the year ended 28 February 2022:CreditDebitAccount Name14 000Inventory22 000Trade re

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter15: Managing Short-term Assets

Section: Chapter Questions

Problem 11PROB

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