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18/05/2022, 23:34 Assessment 4 (page 1 of 2)
Question 1
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The information below relates to questions 1 – 20.
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The following information which relates to Tshivhase CC is presented to you for the preparation of the statement of cash flows for the
previous financial year ended 31 August 2021:
Extract from the statement of financial position as at 31 August 2021:
2021 2020
R R
Members’ contributions 1 196 900 1 057 100
Retained earnings 216 800 78 000
Long-term loan 265 900 194 000
Distribution to members payable 73 400 106 500
Loans to members 92 100 33 400
Loans from members 111 400 -
Trade payables control 128 500 65 500
Current tax payable 58 200 39 200
Land and buildings (at cost) 752 500 499 500
Machinery (at cost) 411 800 387 900
Accumulated depreciation: Machinery 115 400 50 800
Investment (at fair value) 133 700 -
Inventory 38 800 22 700
Dividend receivable 14 300 68 900
Trade receivables control 71 600 69 500
Prepaid advertising expense 13 700 11 700
Accrued security expenses 5 200 2 400
Fixed deposit 17 500 12 600
Bank 130 500 188 600
Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021:
R
Revenue 712,900
Cost of sales 333,500
Investment income: dividend income 12,300
Fair value gain on listed investments 17,300
Interest income on loans to members 11,800
Interest income on loans from members 12,700
Interest expense on long term loans 10,200
Income tax expense 96,100
Loss on sale of machinery 7,000
Office expenses 18,200
Repairs and maintenance 22,000
Telephone expenses 24,200
Water and electricity 41,000
Depreciation on machinery 72,300
Additional information:
1. Cash flows from operating activities are presented using the direct method
2. Profit distribution to members paid amounted to R29 000.
2. All inventories are purchased and sold on credit.
3. Interest on loans advanced to and received from members is capitalised. All loans to members are immediately callable whilst the total
amount owing to members is payable on 31 August 2023.
4. Machinery with a cost price of R22 400 and accumulated depreciation of R8 900 was sold for cash. A replacement machinery was
bought on 30 June 2021.
5. Improvements to land and buildings were carried out during the year.
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18/05/2022, 23:34 Assessment 4 (page 1 of 2)
6. Investments consist of the following:
- Ordinary shares in Mloto Limited
Which of the following alternatives represents the correct amount that must be disclosed as cash receipts from customers under cash
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flows from operating activities section in the statement of cash flows for Tshivhase CC for the year ended 31 August 2021?
Dashboard / My courses / FAC1602-22-S1 / Welcome Message / Assessment 4
a. 571 800
b. 854 000
c. 710 800
d. 712 900
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Question 2
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Which of the following alternatives represents the correct amount of purchases under cash flows from operating activities section in the
statement of cash flows for Tshivhase CC for the year ended 31 August 2021?
a. 333 500
b. 317 400
c. 349 600
d. 310 800
Clear my choice
Question 3
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Assume that the correct amount for cash purchases is R350 000. Which of the following alternatives represents the correct amount that must
be disclosed as cash paid to suppliers and employees under cash flows from operating activities section in the statement of cash flows for
Tshivhase CC for the year ended 31 August 2021?
a. 387 600
b. 391 600
c. 392 400
d. 390 400
Clear my choice
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18/05/2022, 23:34 Assessment 4 (page 1 of 2)
Question 1
Not yet answered
Marked out of 5.00
MENU
The information below relates to questions 1 – 20.
Dashboard / My courses / FAC1602-22-S1 / Welcome Message / Assessment 4
The following information which relates to Tshivhase CC is presented to you for the preparation of the statement of cash flows for the
previous financial year ended 31 August 2021:
Extract from the statement of financial position as at 31 August 2021:
2021 2020
R R
Members’ contributions 1 196 900 1 057 100
Retained earnings 216 800 78 000
Long-term loan 265 900 194 000
Distribution to members payable 73 400 106 500
Loans to members 92 100 33 400
Loans from members 111 400 -
Trade payables control 128 500 65 500
Current tax payable 58 200 39 200
Land and buildings (at cost) 752 500 499 500
Machinery (at cost) 411 800 387 900
Accumulated depreciation: Machinery 115 400 50 800
Investment (at fair value) 133 700 -
Inventory 38 800 22 700
Dividend receivable 14 300 68 900
Trade receivables control 71 600 69 500
Prepaid advertising expense 13 700 11 700
Accrued security expenses 5 200 2 400
Fixed deposit 17 500 12 600
Bank 130 500 188 600
Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021:
R
Revenue 712,900
Cost of sales 333,500
Investment income: dividend income 12,300
Fair value gain on listed investments 17,300
Interest income on loans to members 11,800
Interest income on loans from members 12,700
Interest expense on long term loans 10,200
Income tax expense 96,100
Loss on sale of machinery 7,000
Office expenses 18,200
Repairs and maintenance 22,000
Telephone expenses 24,200
Water and electricity 41,000
Depreciation on machinery 72,300
Additional information:
1. Cash flows from operating activities are presented using the direct method
2. Profit distribution to members paid amounted to R29 000.
2. All inventories are purchased and sold on credit.
3. Interest on loans advanced to and received from members is capitalised. All loans to members are immediately callable whilst the total
amount owing to members is payable on 31 August 2023.
4. Machinery with a cost price of R22 400 and accumulated depreciation of R8 900 was sold for cash. A replacement machinery was
bought on 30 June 2021.
5. Improvements to land and buildings were carried out during the year.
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18/05/2022, 23:34 Assessment 4 (page 1 of 2)
6. Investments consist of the following:
- Ordinary shares in Mloto Limited
Which of the following alternatives represents the correct amount that must be disclosed as cash receipts from customers under cash
MENU
flows from operating activities section in the statement of cash flows for Tshivhase CC for the year ended 31 August 2021?
Dashboard / My courses / FAC1602-22-S1 / Welcome Message / Assessment 4
a. 571 800
b. 854 000
c. 710 800
d. 712 900
Clear my choice
Question 2
Not yet answered
Marked out of 5.00
Which of the following alternatives represents the correct amount of purchases under cash flows from operating activities section in the
statement of cash flows for Tshivhase CC for the year ended 31 August 2021?
a. 333 500
b. 317 400
c. 349 600
d. 310 800
Clear my choice
Question 3
Not yet answered
Marked out of 7.00
Assume that the correct amount for cash purchases is R350 000. Which of the following alternatives represents the correct amount that must
be disclosed as cash paid to suppliers and employees under cash flows from operating activities section in the statement of cash flows for
Tshivhase CC for the year ended 31 August 2021?
a. 387 600
b. 391 600
c. 392 400
d. 390 400
Clear my choice
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