EL) is a company that sells cycling equipment throughout South Africa. The company was started by Andronica Mokoena after she struggled to find good replacement parts for his cycling equipment Mthunzi's financial statements are prepared in accordance with international Financial Reporting Standards (IFRS). The financial manager, Ms Jessica is busy preparing the Cash Flow Statement for the year ended 28 February 2020. She does not understand why the Cash Flow Statement and is struggling. She has approached you to assist her with a few matters. The following extract of the trial balance was obtained from the accounting software package for 2020 and 2019. Mthunzi (Pty) Ltd Trial balance extract for the years ended 28 February R' Debit/Credit) 2020 2019 R' Debit/Credit) Retained earnings 17 210 000) 17 340 000) Share Capital (5 000 000) (3 000 000) Revaluation Surplus 12 000 000) (550 000) Debentures ? Inventory 345 000 105 000 Trade Receivables 2600 000 2150 000 Trade payables (113 000) (102 000) Income received in advance (110 000 180 000) Prepaid expenses 23 000 17 100 Shareholders for dividends 1120 000) 176 000) Dividends withholding tax payable (24 000) I (15200) SARS receivable/ipayable) 11 000 17000) 1. The following information, among others, was obtained from the statement of comprehensive income of Mthunzi for the year ended 28 February 2020 R 2019 R Sales 1 290 000 1 090 000 Cost of sales 750 000 623 000 Other operating expenses 220 000 245 000 Interest income 15 000 9200 Profit before tax 366 000 237 000 Profit after tax 243 000 210 000 Included in operating expenses are credit losses related to Ms Sarah. Ms Sara, a long outstanding debtor was declared insolvent during the current accounting period. R9 500 was received from her estate on 1 November 2019 and this represents 30% of the balance owing by Ms Sara. Other operating expenses do not include any depreciation, amortisation or profit or loss from disposal of assets. 2. Trade receivables are presented net of allowance for credit losses of R13 000 (2019: R9 000). 3. Mthunzi issued 3 000 10% debentures of R150 at a premium of 6% on 1 March 2019. Coupon payments are made half yeatly on 30 August and 28 February each year. The debentures will be redeemed on 28 February 2024, at par. 4. Mthunzi declared a capitalisation issue of 50 000 shares during the current period. Mtunzi plans to acquire additional land and buildings in the next accounting period, 100 000 shares were issued to existing shareholders for cash to raise the required funds 5. Mthunzi declared an interim dividend on 30 August 2019. The total dividend payments for the year amounted to R100 000 UY Sara. is represents of the Other operating expenses do not include any depreciation, amortisation or profit or loss from disposal of assets. 2. Trade receivables are presented net of allowance for credit losses of R13 000 (2019: R9 000). 3. Mthunzi issued 3 000 10% debentures of R150 at a premium of 6% on 1 March 2019. Coupon payments are made hall yearly on 30 August and 28 February each year. The debentures will be redeemed on 28 February 2024, at par. 4. Mthunzi declared a capitalisation issue of 50 000 shares during the current period. Mtunzi plans to acquire additional land and buildings in the next accounting period, 100 000 shares were issued to existing shareholders for cash to raise the required funds. 5. Mthunzi declared an interim dividend on 30 August 2019. The total dividend payments for the year amounted to R100 000 Question 1 1.1 Prepare a cash flow statement including only cash flows from operating and financing activities for the year ended 28 February 2020. Focus a Mithunzi Pryllta) is a company that solls quitars throughout the country. Mithuners Financial statements are proporod in Qarordance with international Financial Reporting Stenergids(1985). The financial manager has asked for your assistance with preparing the cash flow stato mont for the your Ended ap 70 bruary 2020. The Following is an Extract of the trial Balance that was obtained for 2010 and 2019. Mihunzi (Pty) Ltd inal Balance Extract for the yogis Ended 2020 and 2019 og February Athun21 Pyllta 2019 R R Aral Balance Extract for the ORICR DR/CR NOQES Ended 28 february Retained earrings (7210 000) (7340 000) Ishare capital 15000 000) (3 000 000) Revaluation surplus (2 000 000) (550 000) Dobopturos 2 Inventory 345 000 105 000 Hrado receivables 2600 000 150 000 trade payables 03000) (102 000) Income foolu od in Odvance Cloooo) ( 80 000) Propaid expenses 23000 17100 Shaihoidor for dividends (120 000) (7600a Dividends withholding tax payable (34000) TAXO recorrelble / cpayabler ( 152 00 11 000 Taxation receivable (payable ) (7000) Additional information The following Information was obtained from the statement of comprehensive income of Muhunzi 70, the year Ended 2170bruary 2020 R (2019 R' 1090 000 sales 1 290 000 Cost Sales 750 000 other operating Expenses 220 000 Interest income 150 000 Profit before tax 166 009 Profit after tax 243 000 673000 24-5 000 92.00 23700 10 000 oporcing Expenses include credit loses related to Ms Sarah. Me Sarah, a long outstanding dento, 695 declared insolvent during the current year. R9500 was received from her Estate on 1 November 2019 and thun represents 30% balanco owing by ms sarah Expenses do not include any depresiation amortisation or prontlloss on disposal. of the other operating 2. Trade recouvables are presented her of allowance 107 credit losses of R3 000 (2019: R9 ooo) 3. Mthunzi issued 3000 10% debertures of Riso at a premium of 6% on 1 march 2019. Coupon payments are made half yearly on 30 August and 28 february Each year. The debentures will be reedamed on 28 february 2024, at par. 4. Mthunzi to declared a capitalisation issue of 50000 Shares during the current percod. Mithunzi Plans to acquire additional Land and Buildings in the next accounting period, 100 ooo shares to existing shareholders for to raise the required funds were issued cash 5. Mtunzi declared an Interim dividend on 30 August 2019. The total o dividend payments for the year amounted to R100 Question 1 1.1. Prepare a cash flow statement including only cash flows from operating and Financing activitles For the year Ended 28 february 2020. (39 marks EL) is a company that sells cycling equipment throughout South Africa. The company was started by Andronica Mokoena after she struggled to find good replacement parts for his cycling equipment Mthunzi's financial statements are prepared in accordance with international Financial Reporting Standards (IFRS). The financial manager, Ms Jessica is busy preparing the Cash Flow Statement for the year ended 28 February 2020. She does not understand why the Cash Flow Statement and is struggling. She has approached you to assist her with a few matters. The following extract of the trial balance was obtained from the accounting software package for 2020 and 2019. Mthunzi (Pty) Ltd Trial balance extract for the years ended 28 February R' Debit/Credit) 2020 2019 R' Debit/Credit) Retained earnings 17 210 000) 17 340 000) Share Capital (5 000 000) (3 000 000) Revaluation Surplus 12 000 000) (550 000) Debentures ? Inventory 345 000 105 000 Trade Receivables 2600 000 2150 000 Trade payables (113 000) (102 000) Income received in advance (110 000 180 000) Prepaid expenses 23 000 17 100 Shareholders for dividends 1120 000) 176 000) Dividends withholding tax payable (24 000) I (15200) SARS receivable/ipayable) 11 000 17000) 1. The following information, among others, was obtained from the statement of comprehensive income of Mthunzi for the year ended 28 February 2020 R 2019 R Sales 1 290 000 1 090 000 Cost of sales 750 000 623 000 Other operating expenses 220 000 245 000 Interest income 15 000 9200 Profit before tax 366 000 237 000 Profit after tax 243 000 210 000 Included in operating expenses are credit losses related to Ms Sarah. Ms Sara, a long outstanding debtor was declared insolvent during the current accounting period. R9 500 was received from her estate on 1 November 2019 and this represents 30% of the balance owing by Ms Sara. Other operating expenses do not include any depreciation, amortisation or profit or loss from disposal of assets. 2. Trade receivables are presented net of allowance for credit losses of R13 000 (2019: R9 000). 3. Mthunzi issued 3 000 10% debentures of R150 at a premium of 6% on 1 March 2019. Coupon payments are made half yeatly on 30 August and 28 February each year. The debentures will be redeemed on 28 February 2024, at par. 4. Mthunzi declared a capitalisation issue of 50 000 shares during the current period. Mtunzi plans to acquire additional land and buildings in the next accounting period, 100 000 shares were issued to existing shareholders for cash to raise the required funds 5. Mthunzi declared an interim dividend on 30 August 2019. The total dividend payments for the year amounted to R100 000 UY Sara. is represents of the Other operating expenses do not include any depreciation, amortisation or profit or loss from disposal of assets. 2. Trade receivables are presented net of allowance for credit losses of R13 000 (2019: R9 000). 3. Mthunzi issued 3 000 10% debentures of R150 at a premium of 6% on 1 March 2019. Coupon payments are made hall yearly on 30 August and 28 February each year. The debentures will be redeemed on 28 February 2024, at par. 4. Mthunzi declared a capitalisation issue of 50 000 shares during the current period. Mtunzi plans to acquire additional land and buildings in the next accounting period, 100 000 shares were issued to existing shareholders for cash to raise the required funds. 5. Mthunzi declared an interim dividend on 30 August 2019. The total dividend payments for the year amounted to R100 000 Question 1 1.1 Prepare a cash flow statement including only cash flows from operating and financing activities for the year ended 28 February 2020. Focus a Mithunzi Pryllta) is a company that solls quitars throughout the country. Mithuners Financial statements are proporod in Qarordance with international Financial Reporting Stenergids(1985). The financial manager has asked for your assistance with preparing the cash flow stato mont for the your Ended ap 70 bruary 2020. The Following is an Extract of the trial Balance that was obtained for 2010 and 2019. Mihunzi (Pty) Ltd inal Balance Extract for the yogis Ended 2020 and 2019 og February Athun21 Pyllta 2019 R R Aral Balance Extract for the ORICR DR/CR NOQES Ended 28 february Retained earrings (7210 000) (7340 000) Ishare capital 15000 000) (3 000 000) Revaluation surplus (2 000 000) (550 000) Dobopturos 2 Inventory 345 000 105 000 Hrado receivables 2600 000 150 000 trade payables 03000) (102 000) Income foolu od in Odvance Cloooo) ( 80 000) Propaid expenses 23000 17100 Shaihoidor for dividends (120 000) (7600a Dividends withholding tax payable (34000) TAXO recorrelble / cpayabler ( 152 00 11 000 Taxation receivable (payable ) (7000) Additional information The following Information was obtained from the statement of comprehensive income of Muhunzi 70, the year Ended 2170bruary 2020 R (2019 R' 1090 000 sales 1 290 000 Cost Sales 750 000 other operating Expenses 220 000 Interest income 150 000 Profit before tax 166 009 Profit after tax 243 000 673000 24-5 000 92.00 23700 10 000 oporcing Expenses include credit loses related to Ms Sarah. Me Sarah, a long outstanding dento, 695 declared insolvent during the current year. R9500 was received from her Estate on 1 November 2019 and thun represents 30% balanco owing by ms sarah Expenses do not include any depresiation amortisation or prontlloss on disposal. of the other operating 2. Trade recouvables are presented her of allowance 107 credit losses of R3 000 (2019: R9 ooo) 3. Mthunzi issued 3000 10% debertures of Riso at a premium of 6% on 1 march 2019. Coupon payments are made half yearly on 30 August and 28 february Each year. The debentures will be reedamed on 28 february 2024, at par. 4. Mthunzi to declared a capitalisation issue of 50000 Shares during the current percod. Mithunzi Plans to acquire additional Land and Buildings in the next accounting period, 100 ooo shares to existing shareholders for to raise the required funds were issued cash 5. Mtunzi declared an Interim dividend on 30 August 2019. The total o dividend payments for the year amounted to R100 Question 1 1.1. Prepare a cash flow statement including only cash flows from operating and Financing activitles For the year Ended 28 february 2020. (39 marks