lOMoARcPSD|36639652
FAC1601 ASSIGNMENT 5 SOLUTIONS
PLEASE RUN THE ASSIGNMENT FOR AT LEAST 2 HOURS SO THAT YOU ARE NOT FLAGGED FOR POSSIBLE
INFORMATION SHARING
QUESTION 1
Cash receipt from customers
2021 2022 Cash
received
from
customers
Items in statement of profit or loss and other + Accrued - Accrued
comprehensive income income income
- Income + Income
received in received
advance in advance
Revenue 805 800 + 83 300 - 92 700 796 400
QUESTION 2
Cash generated from operations
Cash receipts from customers (given) 920 000
Less: Cash paid to suppliers and employees see (666 100)
calculation below
, lOMoARcPSD|36639652
Cvash generated from operations 253 900
2021 2022 Cash paid
to
suppliers
and
employees
Items in statement of profit or loss and other + - Accrued
comprehensive income Accrued income
income
- Income + Income
received received in
in advance
advance
Purchases *** 402 900 + 52 600 - 66 500 389 000
Wages 84 400 + 11 400 95 800
Insurance 14 100 - 4 200 + 11 200 21 110
Administration, distribution and other purchases 160 200 160 200
666 100
Purchases ***
Cost of sales 392 400
Add back : closing inventory 83 500
Less: Opening inventory (73 000)
Purchases *** 402 900
QUESTION 3
Interest paid – no interest paid given in scenario
QUESTION 4
, lOMoARcPSD|36639652
income tax paid in the cash flows from operating activities
Income tax payable at beginning of year (48 700)
Income tax expense for the year (55 200)
Less: income tax payable at the end of the year 63 400
Income tax paid (40 500) NEGATIVE
QUESTION 5
Dividend received - no balance at of dividend receivable at beginning or end
of year, use amount given 20 800
QUESTION 6
Opening dividend payable (62 000)
Add dividends decalred
- preference dividends (given) (40 000)
- Ordinary : shares issued on capitalisation = 120 000 x 1/4 = 30 000 shares.
Total dividend (120 000 + 30 000) x 0,50 (75 000)
Less dividend payable at end of year 46 200
(131 600) Negative
Question 7
Acquisition of listed invest ments
Opening balance -
Less: closing balance (110 000)
Fair value adkustment 8 600
(101 400) Negative
QUESTION 8
FAC1601 ASSIGNMENT 5 SOLUTIONS
PLEASE RUN THE ASSIGNMENT FOR AT LEAST 2 HOURS SO THAT YOU ARE NOT FLAGGED FOR POSSIBLE
INFORMATION SHARING
QUESTION 1
Cash receipt from customers
2021 2022 Cash
received
from
customers
Items in statement of profit or loss and other + Accrued - Accrued
comprehensive income income income
- Income + Income
received in received
advance in advance
Revenue 805 800 + 83 300 - 92 700 796 400
QUESTION 2
Cash generated from operations
Cash receipts from customers (given) 920 000
Less: Cash paid to suppliers and employees see (666 100)
calculation below
, lOMoARcPSD|36639652
Cvash generated from operations 253 900
2021 2022 Cash paid
to
suppliers
and
employees
Items in statement of profit or loss and other + - Accrued
comprehensive income Accrued income
income
- Income + Income
received received in
in advance
advance
Purchases *** 402 900 + 52 600 - 66 500 389 000
Wages 84 400 + 11 400 95 800
Insurance 14 100 - 4 200 + 11 200 21 110
Administration, distribution and other purchases 160 200 160 200
666 100
Purchases ***
Cost of sales 392 400
Add back : closing inventory 83 500
Less: Opening inventory (73 000)
Purchases *** 402 900
QUESTION 3
Interest paid – no interest paid given in scenario
QUESTION 4
, lOMoARcPSD|36639652
income tax paid in the cash flows from operating activities
Income tax payable at beginning of year (48 700)
Income tax expense for the year (55 200)
Less: income tax payable at the end of the year 63 400
Income tax paid (40 500) NEGATIVE
QUESTION 5
Dividend received - no balance at of dividend receivable at beginning or end
of year, use amount given 20 800
QUESTION 6
Opening dividend payable (62 000)
Add dividends decalred
- preference dividends (given) (40 000)
- Ordinary : shares issued on capitalisation = 120 000 x 1/4 = 30 000 shares.
Total dividend (120 000 + 30 000) x 0,50 (75 000)
Less dividend payable at end of year 46 200
(131 600) Negative
Question 7
Acquisition of listed invest ments
Opening balance -
Less: closing balance (110 000)
Fair value adkustment 8 600
(101 400) Negative
QUESTION 8
