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Outlook oll 26% 09:05 mymodules.unisa.ac.za TURN OVER 14 of 18 14 FAC1601/ RFA1601 MAY JUNE 2020 QUESTION 16 (2% marks) The following information pertains to

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Outlook oll 26% 09:05 mymodules.unisa.ac.za TURN OVER 14 of 18 14 FAC1601/ RFA1601 MAY JUNE 2020 QUESTION 16 (2% marks) The following information pertains to R'You Sure CC. Extract of statement of financial position balances as at 28 February 2020 2019 R R Member's contributions... 680 000 580 000 Retained earings (opening balance) 60 360 76 200 Land and buildings at cost 435 000 615 000 Trade receivables control 210 900 111 000 Long term loan (Bantu bank) 108 000 78 000 Trade payables control 168 600 145 800 Distribution to members payable 92 000 275 800 Accrued income (Rent receivable) 1 200 Accrued expenses (Salaries and wages) 1 800 600 Fixed deposit 61 000 Extract of items disclosed in the statement of profit or loss and other comprehensive income for the year ended 28 February 2020 R Depreciation 1 800 Interest expense (long-term loan) 9000 Profit for the year 337 240 600 Additional information (a) The fixed deposit was made on 28 February 2020 (b) The long-term loan is repayable in November 2022. Interest is charged per annum and is capitalised (c) No land and buildings were purchased during the year. Fifty percent of the selling price of the land and buildings was received in cash, whereas the outstanding amount is to be received in May 2020 The bookkeeper induded amount owing was included in the trade debtors account () No furniture or equipment was sold or scrapped during the year. All purchases were paid for in cash (e) On 28 February 2020, the members of the CC decided on a profit distribution of R193 600 All capital contributions were made in cash (9) Income tax expense for the financial year amounted to R12 760 Which one of the following alternatives represents the correct amount that must be disclosed as net cash from financing activities in the statement of cashflows of RYouSure CC for the year ended 28 February 2020? 1. R150 000 2 R121 000 3. R130 000 4. R120 000 TURN OVER

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