FAC1601 ASSESSMENT 02 UNISA SEMESTER 2 2025

THE BMZ ACADEMY




THE BMZ ACADEMY




@061 262 1185/068 053 8213




BMZ ACADEMY 061 262 1185/068 053 8213

, THE BMZ ACADEMY




Owakhe CC: statement of financial position as at 28 February
2024

Non-current Assets Rands
Fixed deposit 228,000
Investments 283,200
Land 1,408,900
Buildings 5,004,600
Accumulated depreciation -458,300
Equipment 933,500
Accumulated depreciation -286,100
Vehicles 800,600
Accumulated depreciation -112,800
Total NCA 7,801,600
Current Assets
Trade receivables 542,000
Allowance for credit losses -10,000
Prepaid expenses 20,700
Loan to Bhekumusa 94,600
Total current Assets 647,300
Total Assets 8,448,900

current liabilities
Bank (Overdraft) 1,297,400
Trade payables 543,400
Current portion of long-term loan (Inanda
Bank) 382,100
total current liabilities 2,222,900
Non-current Liabilities
Long-term portion of Inanda Bank loan 1,146,300
Loan from Musawenkosi 688,500
Total NCL 1,834,800
Total liabilities 4,057,700
Equiity
Member’s contributions 3,155,300
Retained earnings (after adjustment) 987,500
Total Equity 4,142,800
Toaytl Equity and Liabilities 8,200,500

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