TURNOVER FAC MAY 2018 QUESTIONS EXTRACT DITEMS FROM THE STATEMENT OFFICIAL FAN AS AT 19200 29600 2900 9700 24300 Netto contro 000 Long From TONE Tale HOME ARE 000 12 contre 300 tre 53 y Darbon EXTRACT OF WESTROW THE STATEMENT OF PORT OR LOSS AND OTHER CONPREHENSIVE INCOME FOR THE YEAR ENGED OCTOBERT 1900 000 Cow Prolone Dewded code Some Decor Won Cred Geos www.no Adrenali 1 cash lawmurta s prennent en A buton ose 300 deciben ung the year Theme TURN OVER PACO MARINE 2018 QUESTION REQUIRED Poate CASH FLOWS FROW OPERATING ACTIVITIES AND CASH FLOW FROM NVESTING ACTIVITIES OTH on contro 02 Penente Yomon where me where we go New NOT A MUST QUESTION 3 (24 marks) (29 minutes) The following information pertains to Banele CC EXTRACT OF ITEMS FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER: 2017 2016 R R Members' contributions 550 000 450 000 Retained earnings 103 400 81 200 Long-term borrowings 19 200 57 600 Trade payables 29 000 24 300 Income tax payable (SARS) 2000 Land and buildings at cost 408 000 312 000 Equipment at carrying amount 36 400 44 500 Bank (Dr) 10 800 27 300 Trade receivables 71 100 53 300 Accrued income (Rent) 1 500 Inventory 8 900 9 300 Distribution to members payable 9000 18 000 EXTRACT OF ITMES FROM THE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2017 Revenue Cost of sales Profit on sale of non-current assets Equipment Dividend income Listed investments Salanes to members Depreciation (Furniture and equipment) Water and electricity Credit losses General expenses Interest on long-term loan Income tax expense R 560 800 258 300 1 800 14 000 80 000 6 200 3400 5 000 6 200 9 000 32 000 Additional information: 1 No land and buildings were sold, and no equipment was purchased Equipment was sold for cash All other movements in property, plant and equipment were for cash A profit destnbution of R30 000 was declared to members dunng the financial year under 2 review 3 The members' contributions were made in cash QUESTION 3 (continued) REQUIRED: Marks Prepare the CASH FLOWS FROM OPERATING ACTIVITIES AND CASH FLOWS FROM INVESTING ACTIVITIES sections of the statement of cash flows of Banele CC for the year ended 31 October 2017 The cash generated from/(used in) operations must be disclosed according to the direct method 24 (24) Please note: Your answer must comply with the provisions of the Close Corporations Act, No 69 of 1984, as amended, and the requirements of International Financial Reporting Standards (IFRS) Notes to the annual financial statements and comparative figures are NOT required Round off all amounts to the nearest Rand All calculations MUST be shown TURNOVER FAC MAY 2018 QUESTIONS EXTRACT DITEMS FROM THE STATEMENT OFFICIAL FAN AS AT 19200 29600 2900 9700 24300 Netto contro 000 Long From TONE Tale HOME ARE 000 12 contre 300 tre 53 y Darbon EXTRACT OF WESTROW THE STATEMENT OF PORT OR LOSS AND OTHER CONPREHENSIVE INCOME FOR THE YEAR ENGED OCTOBERT 1900 000 Cow Prolone Dewded code Some Decor Won Cred Geos www.no Adrenali 1 cash lawmurta s prennent en A buton ose 300 deciben ung the year Theme TURN OVER PACO MARINE 2018 QUESTION REQUIRED Poate CASH FLOWS FROW OPERATING ACTIVITIES AND CASH FLOW FROM NVESTING ACTIVITIES OTH on contro 02 Penente Yomon where me where we go New NOT A MUST QUESTION 3 (24 marks) (29 minutes) The following information pertains to Banele CC EXTRACT OF ITEMS FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER: 2017 2016 R R Members' contributions 550 000 450 000 Retained earnings 103 400 81 200 Long-term borrowings 19 200 57 600 Trade payables 29 000 24 300 Income tax payable (SARS) 2000 Land and buildings at cost 408 000 312 000 Equipment at carrying amount 36 400 44 500 Bank (Dr) 10 800 27 300 Trade receivables 71 100 53 300 Accrued income (Rent) 1 500 Inventory 8 900 9 300 Distribution to members payable 9000 18 000 EXTRACT OF ITMES FROM THE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2017 Revenue Cost of sales Profit on sale of non-current assets Equipment Dividend income Listed investments Salanes to members Depreciation (Furniture and equipment) Water and electricity Credit losses General expenses Interest on long-term loan Income tax expense R 560 800 258 300 1 800 14 000 80 000 6 200 3400 5 000 6 200 9 000 32 000 Additional information: 1 No land and buildings were sold, and no equipment was purchased Equipment was sold for cash All other movements in property, plant and equipment were for cash A profit destnbution of R30 000 was declared to members dunng the financial year under 2 review 3 The members' contributions were made in cash QUESTION 3 (continued) REQUIRED: Marks Prepare the CASH FLOWS FROM OPERATING ACTIVITIES AND CASH FLOWS FROM INVESTING ACTIVITIES sections of the statement of cash flows of Banele CC for the year ended 31 October 2017 The cash generated from/(used in) operations must be disclosed according to the direct method 24 (24) Please note: Your answer must comply with the provisions of the Close Corporations Act, No 69 of 1984, as amended, and the requirements of International Financial Reporting Standards (IFRS) Notes to the annual financial statements and comparative figures are NOT required Round off all amounts to the nearest Rand All calculations MUST be shown