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Moletji Ltd is public company owned by two prominent business women and the local community trust around the Capricom District Municipality. The company was founded in the year 2018 and the following information pertains to the company Extract of accounts pertaining to the statement of financial position as at 31 December: 2020 2019 R R Long-term loan 112 500 89 100 Loans to directors 47 900 13 800 Loans from shareholders 11 100 34 100 Trade payables control 59 900 48 000 Accrued security expense 7100 1 800 Land and buildings at cost 758 700 615 500 Vehicles at cost 267 100 130 100 Furniture at cost 86 000 71 300 Investments at fair value 168 700 Accumulated depreciation: Vehicles 62 600 47 600 Accumulated depreciation: Fumiture 15 700 13 300 Share capital: ordinary shares 515 200 256 300 Share capital: 12% preference shares 265 500 177 900 Retained earrings 484 100 370 400 Inventory 115 700 77 200 Dividends payable 46 900 14 900 Dividends receivable 3 000 2 500 SARS (Income tax) 46 900 Dr 103 800 Trade receivables control 66 400 77 900 Prepaid expenses (advertising) 7 900 5500 Bank 37 600 2 100 Thoms disclosed in the statement of profit or loss and other comprehentive income for the year anded 31 December Revere Cast of sales Proton sale of noncurrent assets.tumsture Loss on ise on listed investments Dividend income listed investments Fal value gain listed investments Other operating expenses Admistrative expenses (including salaries and wages) Depreciation Loss on sale of non-cument asset vehicle Interest expense Income tax expense Profe for the year 2 107 300 750 500 900 3600 8 900 14 900 140 000 101 700 51 500 12 100 11 500 232 100 587600 Additional information: 1. The following relates to property.plant and equipment On 31 October 2020, a vehicle with a cout price of R71 000 and accumulated depreciation of R50 000 (on January 2020, was sold for cash. A replacement vehicle was bought on December 2020 On 20 June 2020, furniture with a cost price of R4000 and accumulated depreciation of R1 200 was sold for cash. A replacement future was bought on 31 July 2020 Al other purchases were in cash. 2 ta the accounting policy of the company to provide for depreciation as foliowe Vehicles: According to the diminishing Daande method at 20% per annum Furniture: According to the straight-ine metod, at 20% per annum 2. The following relates the shares of the company On 31 August 2020, the shareholders approved the capitalisation issue of one (1ordinary stare for every four (4) ordinary shares held. On that date the number of ordinary shares issued were 98 000 shares. The capitalisation Issue was done from retained earnings at Ro 30 per share. All other issued shares were paid for incash. The company allotted and issued 45000 ordinary shares and 12% preference share on 31 October 2020 . On 15 December 2020, the company declared an ordinary dividend of 30 cents per share. 4. The Investments consist of listed shares in Mankweng Lid, bought for R3 each on 1 January 2020. The company sold 4 000 of these shares on 30 November 2020. 5. The following relates to loans for the company Interest on long-term loans is capitalised Loans to directors are interest free and immediately calable. Loans from shareholders are interest free and repayable on 30 November 2022. QUESTION 18 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 Molet Limited for the year ended 31 December 2020? .A (30300) ..(42 700) . Co D. (38 100) . E. (27 000) F. (34 100 . Reset Selection Question 19 of 32 2.5 Points QUESTION 19 Which of the following alternatives represents the correct amount that must be disclosed as replacement of furniture under Investment in property plant and equipment to maintain operating capacity in the cash flows from investing activities section according to direct method in the statement cash flow of Maleti Laited for the year ended 31 December 2007 . A. A (9000) B. (14 700) . . C. (16 700) . D. (15600) . E (11000) . F. (13000) Reset Selection Question 20 of 32 2.5 Points QUESTION 20 Which of the following alternatives represents the correct amount that must be disclosed as replacement of vehicles under investment in property plant and equipment to expand operating cacanty in the cash flows from investing activities section according to direct method in the statement cash flow of Molet Limited for the year ended 31 December 2020? . A. 121 200 C. (178300) . (107300) E. (208 000 F. (192 200) Reset Selection Question 21 of 32 2.5 Points QUESTION 21 Which of the following alternatives represents the correct amount that must be disclosed as replacement of vehicles under Investment in property plant and equipment to maintain operating capacity in the cash flows from investing activities section according to direct method in the statement cash fows of Molet Limited for the year ended 31 December 20207 A. (208000) 1. (121200) C. D. (107300) E. (192 200) F (178 300) Reset Selection Moletji Ltd is public company owned by two prominent business women and the local community trust around the Capricorn District Municipality. The company was founded in the year 2018 and the following Information pertains to the company: Extract of accounts pertaining to the statement of financial position as at 31 December: 2020 2019 R R Long-term loan 112 500 89 100 Loans to directors 47 900 13 800 Loans from shareholders 11 100 34 100 Trade payables control 59 900 48 000 Accrued security expense 7100 1 800 Land and buildings at cost 758 700 615 500 Vehicles at cost 267 100 130 100 Fumiture at cost 86 000 71 300 Investments at fair value 168 700 Accumulated depreciation: Vehicles 62 600 47 600 Accumulated depreciation: Furniture 15 700 13 300 Share capital: ordinary shares 515 200 266 800 Share capital: 12% preference shares 265 500 177 900 Retained earnings 484 100 370 400 Inventory 115 700 77 200 Dividends payable 46 900 14 900 Dividends receivable 3 000 2 500 SARS (Income tax) 46 900 Dr 103 800 Trade receivables control 66 400 77 900 Prepaid expenses (advertising) 7 900 5 500 Bank 37 600 2 100 Items disclosed in the statement of profit or loss and other comprehensive income for the year ended 31 December 2020: R 2107300 780500 900 Revenue Cost of sales Profit on sale of non-current assets: fumiture Loss on sale on listed investments Dividend income: listed investments Fair value gain: listed investments Other operating expenses Administrative expenses (including salaries and wages) Depreciation Loss on sale of non-current asset: vehicle Interest expense Income tax expense Profit for the year 3600 8900 14900 140 600 161 700 51500 12100 11 500 232 100 597600 Additional information: . 1. The following relates to property, plant and equipment: On 31 October 2020, a vehicle with a cost price of R71 000 and accumulated depreciation of R50 000 (on 1 January 2020) was sold for cash. A replacement vehicle was bought on 1 December 2020. On 20 June 2020, furniture with a cost price of R4000 and accumulated depreciation of R1 200 was sold for cash. A replacement fumiture was bought on 31 July 2020. All other purchases were in cash. 2. It is the accounting policy of the company to provide for depreciation as follows: Vehicles: According to the diminishing balance method, at 20% per annum. Furniture: According to the straight-line method, at 25% per annum, 3. The following relates to the shares of the company: On 31 August 2020, the shareholders approved the capitalisation issue of one (1) ornary share for every four (4) ordinary shares held. On that date the number of ordinary shares issued were 98 000 shares. The capitalisation issue was done from retained earnings at R0,50 per share. All other issued shares were paid for in cash. . The company aliotted and issued 45 000 ordinary shares and 12% preference shares on 31 October 2020. On 15 December 2020, the company declared an ordinary dividend of 30 cents per share. 4. The investments consist of listed shares in Mankweng Ltd, bought for R3 each on 1 January 2020. The company sold 4 000 of these shares on 30 November 2020. 5. The following relates to loans for the company: Interest on long-term loans is capitalised. Loans to directors are interest free and immediately callable. Loans from shareholders are interest free and repayable on 30 November 2022 . . QUESTION 18 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 Moletji Limited for the year ended 31 December 2020? . A. (30300) B. (42700) C.O . D. (38 100) E. (27000) . F (34 100) Reset Selection QUESTION 19 Which of the following alternatives represents the correct amount that must be disclosed as replacement of furniture under investment in property plant and equipment to maintain operating capacity in the cash flows from investing activities section according to direct method in the statement cash flows of Moletji Limited for the year ended 31 December 2020? . A. (9000) . B. (14 700) C. (18700) . D. (15600) E. (11 600) F. (13000) QUESTION 20 Which of the following alternatives represents the correct amount that must be disclosed as replacement of vehicles under investment in property plant and equipment to expand operating capacity in the cash flows from investing activities section according to direct method in the statement cash flows of Moletji Limited for the year ended 31 December 2020? . . . B. (121 200) C. (178 300) D. (107300) . . . E. (208 000) F. (192 200)