Question 4, 5 and 6

GIVEN INFORMATION FOR QUESTIONS 4 9 The following information pertains to Si kaats CC: EXTRACT OF BALANCES AS AT 31 DECEMBER 2018 2017 Members contribution: Sil Members contribution: Kaats 165 000 145 350 165 000 145 350 217 500 307 500 10 500 1 500 75 300 Furniture and equiprment at cost Accumulated depreciaon: Furniture and equiprment 105 600 10 500 72 000 Bank 252 600 38 800 105 450 188 850 40 000 20 000 65 500 84 300 14 000 55 500 83 500 Profit distributions payable Revaluation surplus Long term loan (Axle Bank) Trade payables 39 000 72 900 EXTRACT FROM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2018 3 600 15 500 52 500 Profit on sale of non-current assets Land and buildings) ative expenses (Salaries and wag nterest e 3. 3.1 3.2 3.3 3.4 Additional information The loan of R37 500 was acquired on 1 September 2017, Interest is charged at 12% per annum and is capitalised annually. An additional amount was acquired on 31 December 2018. Included in an interest expense of R9 180, is an interest on a long term loan of R4 680 that was capitalised. 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 was on credit. No furniture or equipment was sold or scrapped during the year. All purchases were paid for in 18 FAC1601/101/3/2019 ASSIGNMENT 02- FIRST SEMESTER (continued) 3.5 All purchases of inventory were on credit. All the other expenses, except the accrued expenses, were paid in ful. Income tax expense for the year amounted to R56 030. Inventory is disclosed at cost. The debtors control balance as at 31 December 2017 comprised of trade debtors only. The debtors control balance as at 31 December 2018 includes trade debtors and a debtor in respect of the sale of land and buildings All members' contributions were made in cash. 3.6 3.7 3.8 3.9 QUESTION 4 For question 4 only, assume that the retained income balance of Silkaats CC amounted to R138 850 for the year ended 31 December 2018. Which one of the following alternatives represents the profit before tax as disclosed in the operating activities section of the statement of cash flows of Silkaats CC for the year ended 31 December 2018, disclosed according to the indirect method? 2. 3. 4. R 55 350 R 111 380 R 151 380 R 171 380 QUESTION 5 Assuming that the profit before tax for Si kaats CC for amounted to R201 380 for the year ended 31 December 2018. Which one of the following alternatives represents the net cash generated from operating activities in the statement of cash flows of Silkaats CC for the year ended 31 December 2018, according to the indirect method? 1 R204 060 2. R221 380 3. R231 560 4. R185 030 QUESTION 6 which one of the following alternatives represents the net cash generated from or(used in) investing activities in the statement of cash flows of Silkaats CC for the year ended 31 December 2018? 1. R (95 100] Outflow 2. R (32 350) Outlow 3. R 62 750 Infow 4. R 115 500 inflow