Exam (elaborations)
FAC1601 ASSIGNMENT 5 SEMESTER 2
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QUESTIONS AND ANSWERS FOR FAC1601 ASSIGNMENT 5
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UNISA 2024 FAC1601-24-S2 Welcome Message Assessment 5QUIZ
,Question 1 Nestled in the heart of the Klein Karoo, Western Cape, PlayNow CC is a clos
Answer saved educational toys to Early Childhood Development (ECD) centres across the r
Marked out of owned by two members with backgrounds in education and a shared passion
39.00 Their mission is to enrich the learning environments of young children by prov
toys that support cognitive, social, and emotional growth.
The following information, which relates to PlayNow CC, is presented to you
flows for the financial year ended 31 August 204.
Extract from the statement of financial position as at 31 August 2024:
2024 2023
R R
Loans to members 191,400 6
Loans from members 251,500 3
Accrued expense (marketing expenses) 12,600 1
Current tax payable 97,900 7
Distribution to members payable 152,600 20
Trade payables control 290,000 15
Inventory 93,600 5
Trade receivables control 151,500 17
Prepayments (security expense) 35,900 2
Accrued income (rental) 11,600 1
Retained earnings 414,300 13
Members’ contributions 2,010,900 1,70
Long-term loan 552,600 36
Bank 371,100 57
Machinery (at cost) 990,900 87
Accumulated depreciation: Machinery 244,200 13
Land and buildings (at cost) 1,969,600 1,22
Investments 380,200
Dividend receivable 34,400 15
Extract from the statement of profit or loss and other comprehensive in
R
Profit on sale of machinery 15,600
Cost of sales 777,200
Depreciation on machinery 147,400
Fair value loss on listed investments 31,700
Income tax expense 209,600
,PLAYNOW CC
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 202
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipt from customers 1
Cash paid to suppliers and employees -9
Cash generated from operations
Dividends received 1
Interest paid
Income tax paid -
Distribution to members paid -1
Acquisition of listed investment -
Proceeds from loans from members
Acquisition of fixed deposit
Additional loans advanced to member -
Net cash from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in property, plant and equipment to expand operating capacity
Improvement of land and buildings -
Investments in property, plant and equipment to maintain operating capacity
Additions to machinery
Proceeds on sale of machinery
Acquisition of fixed deposit -
Net cash used in investing activities
, UNISA 2024 FAC1601-24-S2 Welcome Message Assessment 5
QUIZ
Question 6 When a sole proprietor withdraws money from the business for personal use,
Answer saved
Marked out of True
1.00
False
Prev io u s a c tivity
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Assessment 4
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