FAC1501-25-S1
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Mr S Africa is the owner of SA Traders. On 31 March 2024, the following list of balances was extracted from the accounting records of SA Traders:
- Computer equipment - R337 480
- Trade receivables - R64 960
- Short-term loan - R112 490
- Prepaid expenses - R11 830
- Favourable bank balance - R31 943
Determine the net worth of SA Traders as at 31 March 2024 by making use of the basic accounting equation.
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the net effect on the accounting equation is a decrease, please enter the amount as a negative (eg: -12141.72)