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fac1601 Assignment 4 Semester 2 2023 Distinction
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FAC 1601ASSIGNMENT 4 SEMESTER 2 2023
Use this document as a guide to learn, compare and reference
,10/14/23, 1:15 PM Assessment 4: Attempt review
EXPECT VIEW TUTORS
066 5387925
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14169322&cmid=673035 1/16
,10/14/23, 1:15 PM Assessment 4: Attempt review
Started on Saturday, 14 October 2023, 10:44 AM
State Finished
Completed on Saturday, 14 October 2023, 1:14 PM
Time taken 2 hours 30 mins
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, 10/14/23, 1:15 PM Assessment 4: Attempt review
The information below relates to questions below:
You have been presented with the following information to assist in the preparation of the statement of cash
flows for Mhlabavuleka Limited:
Extract of items from the statement of financial position information as at 28 February 2023:
2023 2022
R R
Dividends receivable 20,500 12,500
Listed investment at fair value 274,200 220,000
Current tax receivable 23,800 8,500
Inventory 67,500 51,900
Interest receivable - 7,100
Trade debtors control 52,700 49,300
Bank (Dr) 43,800 30,000
Loans to director 252,500 236,300
Machinery at cost 191,700 240,600
Accumulated depreciation: Machinery 41,100 14,600
Land and buildings 808,800 481,100
Share capital 711,300 628,000
Retained earnings 968,400 567,900
Revaluation reserve 168,700 118,500
Mortgage 78,300 209,600
Dividends payable 10,900 17,400
Trade creditors control 33,800 20,700
Interest payable 13,400 9,700
Extract of items disclosed in the statement of profit or loss and other comprehensive income information for theyear
ended 28 February 2023:
R
Profit on sale of machinery 12,300
Interest income: loans to directors 10,100
Investment income: Dividend received 11,300
Rental income 21,800
Gain on financial assets at fair value through profit or loss 23,500
Interest expense 11,100
Depreciation (machinery) 45,400
Income tax expense 197,000
Additional information
1. The company presents the statement of cash flows using the indirect method.
2. Mhlabavuleka Limited's net cash flow position deteriorated significantly towards the end of the financial
year and as a result, only R88 000 was paid as dividends to shareholders (in cash).
3. To aid the cash flow position, the company sold property, plant and equipment in cash.
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