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FAC1602 Assignment 4 (COMPLETE ANSWERS) Semester 1 2024 (215199)- DUE 20 May 2024
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Elementary Financial Accounting and Reporting
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FAC1602 ASSIGNMENT 4 2024
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Started on Saturday, 14 October 2023, 10:15 PM
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Completed on Saturday, 14 October 2023, 10:47 PM
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Question text
The information below relates to the questions below:
Sidvokodvo CC is an entity in the business of providing software solutions and maintenance in
the logistics sector. The members of the CC have presented you with the following information
for the preparation of the statement of cash flows for the financial year ended 31 August 2023:
Extract from the statement of financial position as at 31 August 2023:
2023 2022
R R
Retained earnings 260,400 91,000
Distribution to members payable 88,200 124,300
Members’ contributions 1,436,300 1,230,500
Long-term loan 319,300 226,000
Current tax payable 71,200 51,200
Trade payables control 167,500 92,200
Loans from members 145,300 21,000
Accrued IT expenses 7,100 3,500
Computer equipment (at cost) 528,700 483,000
Land and buildings (at cost) 965,900 622,200
Accumulated depreciation: Computer equipment 148,400 63,500
Fixed deposit 21,200 16,300
Prepaid security expenses 16,700 15,100
Trade receivables control 84,200 79,500
Loans to members 109,800 42,700
Investment (at fair value) 183,500 44,300
Dividend receivable 19,600 90,600
Inventory 53,400 33,600
Bank 179,100 275,800
Extract from the statement of profit or loss and other comprehensive income for the year
ended 31 August 2023:
R
Operating expenses 20,000
Travel expenses 26,700
IT expenses 45,100
Security expenses 24,200
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