[30] QUESTION FOUR PARTA The following are extracts from the financial records of ABC Ltd for the year ended 31 August 2021. ABC Ltd Extract from the Statement of financial statement as at 31 August 2021 Bank Inventories - trade goods Trade receivables Trade payables Prepaid expenses: Accrued expenses: interest Accrued expenses; other SARS - income tax payable Dividends payable 31 August 2021 -R 50 000 22 000 77 000 44 000 1 800 1 000 5 700 8 000 1 500 31 August 2020 - R 20 000 30 000 69 000 46 000 1 200 2 400 4 400 3000 2 700 ABC Ltd Extract from the Statement of profit or loss and other comprehensive income for the year ended 31 August 2021 R Sales Cost of sales 592 000 (301 000) 291 000 9 000 Gross profit Profit on sale of Equipment Depreciation Interest expense Income tax expense Profit for the year Additional information: 41 000 2 600 15 200 110 300 1. The dividends declared for the current year is R2 400. Required: Prepare only the "Cash flows from operating activities" section of the statement of cash flows for ABC Ltd for the year ended 31 August 2021. Use the indirect method. Show all workings. Where applicable, round off calculations to the nearest Rand. (14) PART B A trial balance is a list of all accounts in the general ledger and their balances at a specified point in time or at a given date. All the debit balances are added together to arrive at an amount for "Total debits and all the credit balances are added together to arrive at the "Total credits". If the value of "Total Debits" is equal to the value of "Total credits" then this is commonly referred to as the trial balance - "balances" or "the trial balance is in equilibrium. This would mean that the method of the double entry system has been implemented accurately. However, it would be incorrect to believe that because the trial balance is in equilibrium there are no errors or omissions in that accounting system. There are errors and omissions that will not be identified by a trial balance that is in equilibrium. Required: Identify at least four types of errors and for omissions that would NOT be identified by a trial balance that is in equilibrium. Provide a brief description of each one or present examples of transactions being recorded in a way that will still allow the trial balance to "balance". (16)