The information below relates to questions 1 17.

The following information pertains to Dolly Limited.

1. Extract from ledger account balances as at 28 February:

	20.21	20.20
	R	R
Share capital: Ordinary shares	280 500	228 300
Share capital: Preference shares	231 000	217 300
Retained earnings	46 200	37 400
Long-term loan - ABC Bank	77 000	110 000
Land and buildings at cost	363 000	341 000
Machinery and equipment at carrying amount	202 300	192 700
Inventory	73 500	65 000
Trade receivables control	92 700	83 300
Listed investments	130 000	-
Bank	15 200	26 300
Trade payables control	56 500	53 600
SARS (income tax)	55 400	37 700
Dividends payable	36 200	32 000
Dividends receivable	25 200	21 000
Accrued expenses (wages)	15 900	11 400
Prepaid expenses	9 100	3 200
Revenue	785 400
Cost of sales	371 900
Administrative, distribution and other expenses	140 200
Fair value gain on listed investments	6 400
Dividends income	16 800
Loss on sale of machinery and equipment	8 100
Income tax expense	47 200
Depreciation	12 500
Wages	73 400
Insurance expense	10 100

2. Additional information

2.1 The following pertains to property, plant and equipment:

2.1.1 During the year machinery and equipment with a carrying amount of R35 000 was sold. This transaction has been correctly recorded.

2.1.2 Land and buildings with a cost price of R50 000 were sold for cash at the same amount. Land and buildings are not depreciated.

2.1.3 All purchases of property, plant and equipment pertained to replacements and were paid in full.

2.2 On 29 February 20.21 Dolly Limited declared ordinary shares dividend of 38 cents per share whilst the preference share dividends amounted to R20 800.

2.3 The interest expense on the long-term loan amounted to R8 500 and was added in the administrative, distribution and other expenses amount above.

2.4 On 31 August 20.20, when the total number of ordinary shares issued were 120 000 shares, the shareholders approved the capitalisation issue of one (1) ordinary share for every four (4) ordinary shares held. The capitalisation issue was done from retained earnings at R0,50 per share. All other issued shares were paid for in cash.

QUESTION 1

Which of the following alternatives represents the correct amount that must be disclosed as cash receipts from customers in the cash generated from operations section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 2

Assume the correct cash receipts from customers is R800 000. Which of the following alternatives represents the correct amount that must be disclosed as cash generated from operations in the cash flows from operating activities section according to direct method in the statement of cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 3

Which of the following alternatives represents the correct amount that must be disclosed as interest paid in the cash generated from operations section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 4

Which of the following alternatives represents the correct amount that must be disclosed as income tax paid in the cash flows from operating activities section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 5

Which of the following alternatives represents the correct amount that must be disclosed as dividends received in the cash flows from operating activities section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 6

Which of the following alternatives represents the correct amount that must be disclosed as dividends paid in the cash flows from operating activities section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 7

Which of the following alternatives represents the correct amount that must be disclosed as acquisition of listed investments in the cash flows from operating activities section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 8

Which of the following alternatives represents the correct amount that must be disclosed as acquisition of listed investments in the cash flows from investing activities section according to direct method in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 9

Which of the following alternatives represents the correct amount that must be disclosed as addition/replacement of machinery and equipment under investment in property, plant and equipment to expand operating capacity in the cash flows from investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 10

Which of the following alternatives represents the correct amount that must be disclosed as addition/replacement of machinery and equipment under investment in property, plant and equipment to maintain operating capacity in the cash flows from investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 11

Which of the following alternatives represents the correct amount that must be disclosed as addition/replacement of land and buildings under investment in property plant and equipment to maintain operating capacity in the cash flows from investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 12

Which of the following alternatives represents the correct amount that must be disclosed as addition/replacement of land and buildings under investment in property plant and equipment to expand operating capacity in the cash flows from investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 13

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from sale of land and buildings in the cash flows from investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 14

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from sale of machinery and equipment in the cash flows from investing activities in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 15

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from issue of shares in the investing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 16

Which of the following alternatives represents the correct amount that must be disclosed as proceeds from issue of shares in the financing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?

QUESTION 17

Which of the following alternatives represents the correct amount that must be disclosed as repayment of long-term loans in the financing activities section in the statement cash flows of Dolly Limited for the year ended 28 February 20.21?