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

  1. Cash flows from operating activities are presented using the direct method
  2. Profit distribution to members paid amounted to R33 000.
  1. All inventories are purchased and sold on credit.
  2. 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.
  3. 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.
  4. Improvements to land and buildings were carried out during the year.
  5. Investments consist of the following:
  • Ordinary shares in Kungwini Limited

QUESTION 4 BELOW:

 

 

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 machinery under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    (55 200)

  • B.

    0

  • C.

    (51 500)

  • D.

    (24 700)

 

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 machinery under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    (51 500)

  • B.

    (24 700)

  • C.

    (55 200)

  • D.

    (28 400)

 

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from sale of machinery under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    25 100

  • B.

    24 400

  • C.

    11 400

  • D.

    10 700

 

Which of the following alternatives represents the correct amount that must be disclosed as acquisition of fixed deposit under cash flows from investing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    0

  • B.

    5 000

  • C.

    (5 200)

  • D.

    (5 100)

 

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from member’s contributions under cash flows from financing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    155 000

  • B.

    144 200

  • C.

    155 800

  • D.

    144 000

 

 

 

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from loans from members under cash flows from financing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    114 700

  • B.

    101 800

  • C.

    127 600

  • D.

    114 800

 

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from long-term borrowings under cash flows from financing activities section in the statement of cash flows for Nandoni CC for the year ended 31 August 2021?

 

  • A.

    74 000

  • B.

    81 000

  • C.

    81 600

  • D.

    74 100

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