question archive The following information which relates to Nandoni CC is presented to you for the preparation of the statement of cash flows for the previous financial year ended 31 August 2020: Extract from the statement of financial position as at 31 August 2021: 2021 2020 R R Members’ contributions 1 233 900 1 089 700 Retained earnings 223 500 80 400 Long-term loan 274 100 200 000 Distribution to members payable 75 600 109 700 Loans to members 94 900 34 400 Loans from members 114 800 - Trade payables control 132 400 67 500 Current tax payable 60 000 40 400 Land and buildings (at cost) 775 700 514 900 Machinery (at cost) 424 500 399 800 Accumulated depreciation: Machinery 118 900 52 300 Investment (at fair value) 137 800 - Loans to members 40 900 56 800 Inventory 40 000 23 400 Dividend receivable 14 700 71 000 Trade receivables control 73 800 71 600 Prepaid advertising expense 14 100 12 000 Accrued security expenses 5 300 2 400 Fixed deposit 18 000 12 900 Bank 134 500 194 400 Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021: R Revenue 734 900 Cost of sales 343 800 Investment income: dividend income 12 600 Fair value gain on listed investments 17 800 Interest income on loans to members 12 100 Interest income on loans from members 13 000 Interest expense on long term loans 10 500 Income tax expense 99 000 Loss on sale of machinery 7 200 Office expenses 18 700 Repairs and maintenance 22 600 Telephone expenses 24 900 Water and electricity 42 200 Depreciation on machinery 74 500 Additional information Cash flows from operating activities are presented using the direct method Profit distribution to members paid amounted to R33 000
The following information which relates to Nandoni CC is presented to you for the preparation of the statement of cash flows for the previous financial year ended 31 August 2020: Extract from the statement of financial position as at 31 August 2021: 2021 2020 R R Members’ contributions 1 233 900 1 089 700 Retained earnings 223 500 80 400 Long-term loan 274 100 200 000 Distribution to members payable 75 600 109 700 Loans to members 94 900 34 400 Loans from members 114 800 - Trade payables control 132 400 67 500 Current tax payable 60 000 40 400 Land and buildings (at cost) 775 700 514 900 Machinery (at cost) 424 500 399 800 Accumulated depreciation: Machinery 118 900 52 300 Investment (at fair value) 137 800 - Loans to members 40 900 56 800 Inventory 40 000 23 400 Dividend receivable 14 700 71 000 Trade receivables control 73 800 71 600 Prepaid advertising expense 14 100 12 000 Accrued security expenses 5 300 2 400 Fixed deposit 18 000 12 900 Bank 134 500 194 400 Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021: R Revenue 734 900 Cost of sales 343 800 Investment income: dividend income 12 600 Fair value gain on listed investments 17 800 Interest income on loans to members 12 100 Interest income on loans from members 13 000 Interest expense on long term loans 10 500 Income tax expense 99 000 Loss on sale of machinery 7 200 Office expenses 18 700 Repairs and maintenance 22 600 Telephone expenses 24 900 Water and electricity 42 200 Depreciation on machinery 74 500 Additional information Cash flows from operating activities are presented using the direct method Profit distribution to members paid amounted to R33 000
Subject:AccountingPrice: Bought3
The following information which relates to Nandoni CC is presented to you for the preparation of the statement of cash flows for the previous financial year ended 31 August 2020:
Extract from the statement of financial position as at 31 August 2021:
| 2021 | 2020 | |
| R | R | |
| Members’ contributions | 1 233 900 | 1 089 700 |
| Retained earnings | 223 500 | 80 400 |
| Long-term loan | 274 100 | 200 000 |
| Distribution to members payable | 75 600 | 109 700 |
| Loans to members | 94 900 | 34 400 |
| Loans from members | 114 800 | - |
| Trade payables control | 132 400 | 67 500 |
| Current tax payable | 60 000 | 40 400 |
| Land and buildings (at cost) | 775 700 | 514 900 |
| Machinery (at cost) | 424 500 | 399 800 |
| Accumulated depreciation: Machinery | 118 900 | 52 300 |
| Investment (at fair value) | 137 800 | - |
| Loans to members | 40 900 | 56 800 |
| Inventory | 40 000 | 23 400 |
| Dividend receivable | 14 700 | 71 000 |
| Trade receivables control | 73 800 | 71 600 |
| Prepaid advertising expense | 14 100 | 12 000 |
| Accrued security expenses | 5 300 | 2 400 |
| Fixed deposit | 18 000 | 12 900 |
| Bank | 134 500 | 194 400 |
Extract from the statement of profit or loss and other comprehensive income for the year ended 31 August 2021:
| R | |
| Revenue | 734 900 |
| Cost of sales | 343 800 |
| Investment income: dividend income | 12 600 |
| Fair value gain on listed investments | 17 800 |
| Interest income on loans to members | 12 100 |
| Interest income on loans from members | 13 000 |
| Interest expense on long term loans | 10 500 |
| Income tax expense | 99 000 |
| Loss on sale of machinery | 7 200 |
| Office expenses | 18 700 |
| Repairs and maintenance | 22 600 |
| Telephone expenses | 24 900 |
| Water and electricity | 42 200 |
| Depreciation on machinery | 74 500 |
Additional information
- Cash flows from operating activities are presented using the direct method
- Profit distribution to members paid amounted to R33 000.
- All inventories are purchased and sold on credit.
- 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.
- Machinery with a cost price of R26 800 and accumulated depreciation of R8 900 was sold for cash. A replacement machinery was bought on 30 June 2020.
- Improvements to land and buildings were carried out during the year.
- Investments consist of the following:
- Ordinary shares in Kungwini Limited
QUESTION 3 BELOW:
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Which of the following alternatives represents the correct amount that must be disclosed as income tax paid under cash flows from operating activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as distributions to members paid under cash flows from operating activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as acquisition of listed investments under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as acquisition of listed investments under cash flows from operating activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as additional loans advanced to members under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as additional loans advanced to members under cash flows from operating activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as investments in property, plant and equipment to maintain operating capacity additions to land and buildings under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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Which of the following alternatives represents the correct amount that must be disclosed as investments in property, plant and equipment to expand operating capacity additions to land and buildings under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?
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