Exam (elaborations)
FAC1601 ASSIGNMENT 4 SEMESTER 1 2024 (215199) UPDATED
- Institution
- University Of South Africa (Unisa)
FAC1601 ASSIGNMENT 4 SEMESTER 1 2024 (215199) error corrected
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,, 1. FAC1601-24-S1
2. Welcome Message
3. Assessment 4
QUIZ
Assessment 4
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Question text
This information relates to the 24 questions below:
SolaMin CC is a profitable business in the maintenance of solar systems for mines in
Ermelo, Mpumalanga. The CC has presented you with the following information for the
preparation of the statement of cash flows for the previous financial year ended 31 August
2023:
Extract from the statement of financial position as at 31 August 2023:
2023 2022
R R
Long-term loan 323,800 225,200
SARS ⏤ current tax payable 72,200 51,000
Trade payables control 158,900 85,900
Loans from members 137,800 14,200
Accrued water and electricity expenses 7,000 3,400
Distribution to members payable 92,700 128,300
Revaluation reserve 18,600 -
Retained earnings 273,600 94,000
Members’ contributions 1,828,600 1,681,600
Fixed deposit 25,100 12,800
Vehicles at cost 147,000 -
Equipment (at cost) 695,700 617,300
Land and buildings 1,051,700 795,100
Accumulated depreciation: equipment 107,800 38,100
Loans to members 87,200 28,000
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