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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, Mpumalanga.
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 :
Long term 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 costLand 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 equipmentSecurity 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 cashflows from operating activities.
All inventory necessary for solar system maintenanceranging from spare parts to entire solar panels is procured and sold on credit terms.
This year, profit distributions totalling R were declared to members, reflecting the company's profitability and its commitment to returning value to its investors.
Over the financial year, significant refurbishments were made to the company's operational facilities, including the storage building for solar components.
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
During the year, equipment essential for maintaining solar systems bought originally at R and with accumulated depreciation, on the date of sale, of R was sold as part of the company's asset improvement strategy. The proceeds were reinvested in acquiring new, more efficient and technologically advanced equipment on June This new machinery is expected to enhance the efficiency of maintenance operations and support the company's growth in the solar maintenance sector The company maintains a strategic investment in ordinary shares of Ermelo Energy Resources Ltd a move that aligns with its core business by investing in a company that is also involved in the renewable energy sector. This investment was acquired at a cost of R per share and the shares traded at R on August
Land and buildings were appraised by an independent valuer and all the adiustmentshave been correctly recorded in the financial records of the CC
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 second hand bakkie to the CC for use by themaintenance team to carry spare parts when travelling to different client sites. No other contributions were made by the members to the CC
QUESTIONS:
Amount that must be disclosed as cash receipts from customers under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as distributions to members paid under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as acquisition of listed investments under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the vear ended August
Amount that must be disclosed as investments in property, plant and equipment to maintain operating capacity additions to land and buildings under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount of purchases under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as investments in property, plant and equipment to expand operating capacity additions to equipment under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as dividends received under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as proceeds from sale of machinery under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as acquisition of fixed deposit under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as acquisition of listed investments under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as interest paid under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as proceeds from member's contributions under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be amount that must be disclosed as dividends received under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as additional loans advanced to members under cash flows from operating activities section in the statement of cash flows for SolaMin CC for the yer ended August
Amount that must be disclosed as proceeds from loans from members under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as acquisition of fixed deposit under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as investments in property, plant and equipment to expand operating capacity additions to land and buildings under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Amount that must be disclosed as proceeds from longterm borrowings under cash flows from financing activities section in the statement of cash flows for SolaMin CC for the year ended August
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
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
Amount that must be disclosed as investments in property, plant and equipment to maintain operating capacity additions to equipment under cash flows from investing activities section in the statement of cash flows for SolaMin CC for the year ended August
Assume that the correct amount for purchases is R Which of the followingalternatives 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
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
Amount that must be disclosed as distributions to members paid under cash flows fromperating activities section in the statement of cash flows for SolaMin CC for the year ended August
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