For the following questions write down corresponding correct letter next to the question number only. Eg. 1.11 A

Additional information: ? Non-current assets with a cost of R2 000 000 were sold during the year, and a loss of R400 000 was incurred.

? Depreciation of R4 800 000 was provided for during the 2015 financial year.

? Long-term loans of R4 000 000 were paid during the year.

? An investment of R1 200 000 was both acquired and disposed of during the year. ? All sales were made on credit.

? ABC Limited marks up its goods for resale by 50% on cost in order to calculate its selling price.

5.1.1 Cash receipts from customers for the 2015 financial year amounts to:

a) A cash inflow of R89 600

b) A cash outflow of R119 600

c) A cash inflow of R179 600

d) A cash outflow of R59 600

e) None of the above

5.1.2 Accumulated depreciation on the asset disposed during the 2015 financial year amounts to:

a) R2 000 000

b) R4 800 000

c) R800 000

d) R2 000 000

e) None of the above

5.1.3 The proceeds on the disposal of fixed assets for the 2015 financial year amounts to:

a) A cash inflow of R400 000

b) A cash inflow of R800 000

c) A cash inflow of R200 000

d) A cash inflow of R1 200 000

e) None of the above

5.1.4 The cash flow in respect of the acquisition of fixed assets for the 2015 financial year amounts to:

a) A cash outflow of R8 000 000

b) A cash outflow of R6 000 000

c) A cash inflow of R10 000 000

d) A cash outflow of R2 000 000

e) None of the above

Information for questions 5.1.1 to 5.1.8 ABC LIMITED Trial balance as at 31 December 2015 2015 2014 R'000 R'000 Non-current assets cost Investments Trade receivable Inventory Accrued income Bank Administration and selling expenditure Loss on disposal of investments Interest expense Taxation expense Dividends declared 22 000 6 000 7 200 10 000 800 2 400 48 400 800 2 000 4 000 1 600 105 200 16 000 0 6 800 7 200 0 1 600 0 0 1600 2 800 1 600 37 600 Share capital Dividends payable Trade payable Accumulated depreciation - non-current assets Taxation payable Interest payable Long-term loan Gross profit Interest income Accumulated profit 7 600 800 4 800 8 000 1 200 400 16 000 60 000 800 5 600 105 200 4 000 1 600 2 400 4 000 400 1 600 12 000 7 600 0 4 000 37 600