QUESTION THREE

The annual financial statements of Bongo $($Pty$)$ Ltd are in the final stages of completion for the

year ended $30$ June $2023.$ The following information was extracted to prepare the statement of

cash flows for the current financial year.

Bongo $($Pty $)$ Ltd

Statement of financial position as at $30$ June $2023($with comparative values for $30$ June $2022)$:

Additional Information:

$1$ Authorised share capital: $1000000$ Ordinary shares

$2$ Issued share capital: $100000$ Ordinary shares were sold for cash during the current

financial period.

$3$ Dividends of R$30000$ were declared and paid on $20$ June $2023.$

$4$ Equipment with a carrying amount of R$240000$ was sold and new equipment was

purchased during the current financial year.