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Ride4Yours Enterprise is based in Malelane and manufactures specialised helmets for motorcycle riders. The business prides itself on using eco-friendly materials, making their helmets not only durable but also safe and sustainable for the environment. Ride4Yours Enterprise is owned by Ms. Mkhwanazi, an entrepreneur who is both an enthusiastic motorcycle rider and a passionate environmental advocate.
The following is presented for Ride4Yours Enterprise at 31 March 2025:
Sales R 361 800
Cost of sales R 152 600
Operating expenses R 89 700
Credit losses recovered R 9 700
Capital R 328 900
On February 13, 2025, the owner, withdrew an amount of R19 700 to pay for a friend’s medical expenses after she had a terrible bike accident in Mbombela. She further withdrew R55 300 on 25 February 2025 to pay for a bike trip with friends to the Okavango Delta in Botswana. A stocktake of the helmets was conducted on February 28, 2025. During this assessment, it was discovered that 5 helmets, all valued at R15 300 , were damaged when they were transported to the shop. These damaged helmets were offered to the local bikers club at a reduced price of R2 500 each. This offer was accepted by the club and the helmets were collected on 15 March 2025.
REQUIRED:
What is the correct in the statement of financial position of Ride4Yours Enterprise as at 31 March 2025?
Instructions:
1. Round off all your answers to the nearest rand (eg: 50.56 = 51)
2. Don’t use any special characters (&) in your answer
3. Do not use any abbreviations.
4. Do not use brackets () to indicate a negative amount, instead use the minus sign “–“, e.g. (50) will instead be indicated as -50