QUESTION 1

Karoo F&L (Pty) Ltd a newly formed company provided you with the following balances as at its financial year end 31 August 2019.

Required: Create the statement of cash flow for Karoo F&L (Pty) Ltd as at 31 August 2019.

Leader List of balances R. Dividends on preference shares 72 000.00 Dividends on ordinary shares 566 400.00 Proceeds from the issue of shares 1 200 000.00 Proceeds from non-current assets 28 800.00 Net income 2 990 400.00 Taxation paid 1 215 000.00 Interest paid 31 200.00 Interest received 12 000.00 Cash receipts from customers 11 039 976.00 1 032 984 Purchase of non-current assets Mortgage loan received 240 000.00 Bank 248 429.00 Cash float 496 858.00 82 810.00 Petty cash Cash paid to suppliers Cash paid to employees 7 106 880.00 1 776 720.00