QUESTION 2: BALANCE SHEET EXTRACT AND NOTES     (61 marks; 4…

QUESTION 2: BALANCE SHEET EXTRACT AND NOTES     (61 marks; 48 minutes)       2.1 PJ TRADERS     The information was extracted from the books of PJ Traders, with partners H. Pollard and E. Jantjies.  The financial year ended on 28 February 2019.     REQUIRED:     2.1.1 Prepare the following notes to the Balance Sheet for the financial year ended 28 February 2019:       ●       Capital (8)     ●       Current Accounts (12)     ●       Trade and other payables Note: Show all short-term liabilities except Bank Overdraft and current portion of loan in this note.   (11)   2.1.2 Complete the Equity and Liabilities section of the Balance Sheet on 28 February 2019. (14)   INFORMATION:       A. Balances from the ledger on 28 February 2019.             R Capital:  H. Pollard                     (1/2/2019) 600 000   Capital:  E. Jantjies                  (28/2/2019) 300 000   Current Account:  H. Pollard     (1/3/2018)      22 500 Cr Current Account:  E. Jantjies     (1/3/2018)     57 600 Dr Drawings:  H. Pollard 72 000   Drawings:  E. Jantjies 96 000   Loan:  FR Finkom 450 000   Creditors control  62 750   SARS: PAYE 13 500   Bank                                                           16 600 Cr Accrued expenses / Expenses payable 12 700   Income receive in advance 4 600   Accrued income / Income receivable 17 000   Prepaid expenses 16 300