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This information relates to the 2 4 questions below: SolaMin CC is a profitable business in the maintenance of solar systems for mines in Ermelo,
This information relates to the questions below:
SolaMin CC is a profitable business in the maintenance of solar systems for mines in Ermelo, Mpumalanga. The CC has presented you
with the following information for the preparation of the statement of cash flows for the previous financial year ended August :
Extract from the statement of financial position as at August : Extract from the statement of profit or loss and other comprehensive income for the year ended August :
Additional information
The company adopts the direct method for presenting cash flows from operating activities.
All inventory necessary for solar system maintenanceranging from spare parts to entire solar panelsis This information relates to the questions below: SolaMin CC is a profitable business in the maintenance of solar systems for mines in Ermelo, Mpumalanga. The CC has presented you with the following information for the preparation of the statement of cash flows for the previous financial year ended August : Extract from the statement of financial position as at August : R R Longterm loan SARS current tax payable Trade payables control Loans from members Accrued water and electricity expenses Distribution to members payable Revaluation reserve Retained earnings Members contributions Fixed deposit Vehicles at cost Equipment at cost Land and buildings Accumulated depreciation: equipment Loans to members Trade receivables control Investment at fair value Inventory Prepaid security expense Dividend receivable Bank Extract from the statement of profit or loss and other comprehensive income for the year ended August : R Revenue sale of maintenance parts Revenue maintenance services Cost of sales Travel expenses Repairs and maintenance expenses Other operating expenses Water and electricity Depreciation on equipment Security expenses Profit on sale of equipment Interest income on loans to members Interest expense on loans from members Interest expense on long term loans Investment income: dividend income Income tax expense Additional information The company adopts the direct method for presenting cash flows from operating activities. This year, profit distributions totalling R were declared to members, reflecting the company's profitability and its commitment to returning value to its investors. Interest on loans given to and obtained from members is capitalised. All loans to members are immediately callable, while the total amount due to partners is payable on June On August the finance managed discovered that the maintenance team had granted one of the customers a discount of R on a maintenance job done on the day. This is yet to be recorded by the finance team. One of the members contributed a secondhand bakkie to the CC for use by the maintenance team to carry spare parts when travelling to different client sites. No other contributions were made by the members to the CC Which of the following alternatives represents the correct amount that must be disclosed as additional loans advanced to members under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August aR bR c R d R Assume that the correct amount for purchases is R Which of the following alternatives represents the correct amount that must be disclosed as cash paid to suppliers and employees under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August a R b R c R d R Which of the following alternatives represents the correct amount that must be disclosed as interest paid under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August a R bR cR d R Which of the following alternatives represents the correct amount that must be disclosed as distributions to members paid under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August aR bR cR dRQuestion text Which of the following alternatives represents the correct amount that must be disclosed as income tax paid under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August aR bR cR dR
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