Exam (elaborations)
FAC1601 ASSEESMENT 5 SEMESTER 1 2024
- Institution
- University Of South Africa (Unisa)
FAC1601 ASSEESMENT 5 SEMESTER 1 2024
[Show more]
Content preview
PASSMATE TUTORIALS passmatetutorials@gmail.comDISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE FRAMEWORK
IS NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS
FRAMEWORK IS ONLY INTENDED TO ASSIST STUDENTS IN GETTING STARTED
WITH THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING, THUS NO STUDENT IS ENCOURAGED TO COPY THIS
DOCUMENT, NOR ITS SECTIONS FOR SUBMISSION. WE BELIEVE THE
FRAMEWORK WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR
TEAM OF PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD,
AND IT WAS PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY
EXISTING THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE
AUTHORS HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE
MODIFICATION OF THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT
BE PROHIBITED AS IT CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY
FURTHER GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE
MODULE IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION PREPARATION,
RESEARCH AND RESEARCH PROPOSALS, DISSERTATION EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ, UP
etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 OR
email passmatetutorials@gmail.com-
,Time left 2:28:43
Question 1
Not yet answered
Marked out of 2.00
Flag question
Question text
The information below relates to questions 1 – 20:
You have been provided with the following data to aid in the preparation of the statement of cash
flows for Sibasa Supplies Limited, a company that supplies cleaning consumables to public and
private health facilities in the Vhembe District Municipality:
Extract of items from the statement of financial position information as at 28 February 2024:
2024 2023
R R
Dividends receivable 25,800 15,500
Listed investment at fair value 350,200 291,000
Current tax receivable 32,700 12,000
Inventory 94,100 73,600
Interest receivable 2,200 4,800
Trade debtors control 67,400 65,300
Bank (Dr) 60,100 41,800
Loans to director 351,700 334,700
Heating equipment at cost 240,600 296,500
Accumulated depreciation: Heating equipment 52,600 19,400
Land and buildings 1,107,200 669,900
Share capital 990,500 889,500
Retained earnings 1,214,900 699,800
Revaluation reserve 215,500 156,800
Mortgage 107,300 292,000
Dividends payable 15,300 24,800
Trade creditors control 42,500 25,600
Interest payable 17,200 12,900
Extract of items disclosed in the statement of profit or loss and other comprehensive income
information for the year ended 28 February 2024:
R
Loss on sale of heating equipment 15,500
Interest income: loans to directors 13,000
Investment income: Dividends 15,600
Rental income 30,500
,Gain on financial assets at fair value through profit or loss 29,600
Interest expense 14,300
Depreciation 63,300
Income tax expense 247,200
Additional information
1. Investments in listed entities are held for trading and recognised through profit and loss.
2. To support the cash flow position, the company sold property, plant, and equipment for cash.
3. According to the company's policy, all loans advanced to directors are immediately callable and
the interest charged is capitalised.
4. The purchases of property, plant, and equipment were made in cash to replace old items. It is the
company’s accounting not to depreciate land and buildings.
5. Vhembe Cleaning Supplies Limited's net cash flow position worsened significantly towards the
end of the financial year. Consequently, only R145,000 was paid as dividends to shareholders in
cash.
6. The company presents the statement of cash flows using the indirect method.
Which of the following alternatives represents the correct amount that must be disclosed as profit
before tax in the cash generated from operations section according to indirect method in the
statement of cash flows of Sibasa Supplies Limited for the year ended 28 February 2024?
a.
R 897,800
b.
R 650,600
c.
R 762,300
d.
R 515,100
Clear my choice
Question 2
Not yet answered
Marked out of 2.00
Flag question
Question text
, Which of the following alternatives represents the correct amount that must be disclosed as
acquisition of listed investments in the cash flows from operating activities section of the statement
of cash flows of Sibasa Supplies Limited for the year ended 28 February 2024?
a.
R (29,600)
b.
R 59,200
c.
R0
d.
R (59,200)
Clear my choice
Question 3
Not yet answered
Marked out of 2.00
Flag question
Question text
Which of the following alternatives represents the correct amount that must be disclosed as loans
advanced to (received from) directors of the company in the cash flows from financing activities
section of the statement of cash flows of Sibasa Supplies Limited for the year ended 28 February
2024?
a.
R (4,000)
b.
R (17,000)
c.
R0
d.
R 4,000
Clear my choice
Question 4
Not yet answered
Marked out of 2.00
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller passmatetutorials. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R72,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now