Certainly, here is an extract of the items from the 2023 statement of financial position as at 28 February 2023:

1. **Dividends Receivable:** - 2023: R20,500 - 2022: R12,500

2. **Listed Investments at Fair Value:** - 2023: R274,200 - 2022: R220,000

3. **Current Tax Receivable:** - 2023: R23,800 - 2022: R8,500

4. **Inventory:** - 2023: R67,500 - 2022: R51,900

5. **Interest Receivable:** - 2023: Not provided (Please check your information)

6. **Trade Debtors Control:** - 2023: R52,700 - 2022: R49,300

7. **Bank (Dr):** - 2023: R43,800 - 2022: R30,000

8. **Loans to Director:** - 2023: R252,500 - 2022: R236,300

9. **Machinery at Cost:** - 2023: R191,700 - 2022: R240,600

10. **Accumulated Depreciation: Machinery:** - 2023: R41,100 - 2022: R14,600

11. **Land and Buildings:** - 2023: R808,800 - 2022: R481,100

12. **Share Capital:** - 2023: R711,300 - 2022: R628,000

13. **Retained Earnings:** - 2023: R968,400 - 2022: R567,900

14. **Revaluation Reserve:** - 2023: R168,700 - 2022: R118,500

15. **Mortgage:** - 2023: R78,300 - 2022: R209,600

16. **Dividends Payable:** - 2023: R10,900 - 2022: R17,400

17. **Trade Creditors Control:** - 2023: R33,800 - 2022: R20,700

18. **Interest Payable:** - 2023: R13,400 - 2022: R9,700

Here is an Extract of items disclosed in the Statement of Profit or Loss and other Comprehensive Income Information for the year ended 28 February 2023.

1. Profit on sale of machinery: R12,300.00. 2. Interest income: loans to directors R10,100.00. 3. Investment income: dividends received R11,300.00. 3. Rental income R21,800.00. 4. Gain on financial assets at fair value through profit or loss R23,500.00. 5. Interest expense R11,100.00. 6. Depreciation on machinery R45,400.00. 7. Income tax expense R197,000.00.

Additional information

1. The company presents the statement of cash flows using the indirect method

2 Mhlabavuleka Limited's net cash flow position deteriorated significently towards the end of the financial year and as a result, only R88 000 was paid as dividends to shareholders (in cash)

3. To aid the cash flow position, the company sold property, plant and equipment in cash The purchases of property, plant and equipment were made from second-hand dealers in cash

5 According to the policy of the company, all the loans advanced to the directors are immediately callable and interest charged on these loans is capatilised.

Q11: Which of the following alternatives represents the correct amount that must be disclosed as proceeds from (repayment of) long-term loans in the cash flows from financing activities section according to direct method in the statement cash flows of Mhlabavuleka Limited for the year ended 28 February 2023?

a. 130,300

b. (131,300)

c. 131,300

d. (130,300)

e . 130,000

Q12: Which of the following alternatives represents the correct amount that must be disclosed as proceeds from issue of shares in the cash flows from operating activities section according to direct method in the statement cash flows of Mhlabaruleks Limited for the year ended 28 February 2023?

a. (84,300)

b. 84,300

c. 83,300

d. 0

e. (83,300)

Q13: 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 operating activities section of the statement of cash flows of Mhlabavuleka Limited for the year ended 28 February 2023?

a. (6,100)

b. 0

c. 16,200

d. 6,100

e. (16,200)

Q14: Which of the following alternatives represents the conect amount that must be disclosed as dividend received in the cash flows from investing activities section of the statement of cash flows of Malabavuleks Limited for the year ended 28 February 2023?

a. 3300

b. 23,800

c. (23,800)

d. 0

e. (3300)

Q15: Which of the following alternatives represents the correct amount that must be disclosed as proceeds from issue of shares in the cash flows from financing activities section according to direct method in the statement cash flows of Mhlabavuleka Limited for the year ended 28 February 2023?

a. 0

b. (83,300)

c. 84300

d. 83,300

e. (84,300)

Q16: Which of the following alternatives represents the correct amount that must be disclosed as increase (decrease) in inventory in the cash generated from operations section of the statement of cash flows of Mhlabavuleks Limited for the year ended 28 February 2023?

a. 15,600

b. (51,900)

c. 51,900

d. (67,500)

e. (15,600)

Q17: Which of the following statements is correct relating to preparation of statement of cash flows?

a. Partnerships are not allowed to prepare a statement of cash flows.

b. Statement of cash flows is prepared according to cash basis of accounting

c. Statement of cash flows is prepared according to the accrual basis of accounting.

d. Statement of cash flows must only be prepared using the indirect method.

e. Statement of cash flows shows only the investing activities of a business.

Q18: Which of the following alternatives represents the correct amount that must be disclosed as increase (decrease) in trade receivables in the cash generated from operations section of the statement of cash flows of Mthlabevuleka Limited for the year ended 28 February 2023?

a. 3,400

b. 13,100

c. (13,100)

d. 13,000

e (3,400)

Q19: Which of the following statements is incorrect relating to preparation of statement of cash flows?

a. Dividends received is a separately disclosable item.

b. Capitalization share issue is regarded as a cash item.

c. Loss on sale of equipment is a non-cash item.

d Interest paid is a separately disclosable item.

e. Depreciation is a non-cash item.

Q20: Which of the following altematives represents the correct amount that must be disclosed as increase (decrease) in trade payables in the cash generated from operations section of the statement of cash flows of Mhlabavuleks Limited for the year ended 28 February 2023?

a. (3,400)

b. 13,000

c. (13,100)

d. 13,100

e. 3,400