You are presented with the following information pertaining to Obani-Lababantu CC:

EXTRACT FROM THE LIST OF BALANCES AS AT 31 DECEMBER

Trade receivables control.......................................................... Prepaid expenses (security) ..................................................... Inventory ................................................................................... Distribution to members payable .............................................. Trade payables control ............................................................. Investment in Benzani Ltd (at cost)........................................... Member's contributions: Nabo-Ke........................................... Member's contributions: Obani ................................................ Member's contributions: Laba................................................... Vehicles at cost.......................................................................... Computer equipment at cost.. .................................................. Accumulated depreciation: Vehicles......................................... Accumulated depreciation: Computer equipment.................... SARS (Income tax) (Dr)............................................................. SARS (Income tax) (Cr)............................................................. Mortgage.................................................................................... Accrued expense (Interest on long-term loan).........................

2019 R 76 300 19 900 63100 23 900 65 000 15 000 105 000 105 000 125 000 156 300 151 000 68 200 50 200 - 89 200 302 000 5 400

2018 R 41 700 15100 58400 39 900 38 800 38100 105 000 105 000 - 222 800 117 400 26 400 26 000 33 800 - 259 500 -

EXTRACT OF ITEMS PRESENTED ON THE STATEMENT OF PROFIT OR LOSS AND OTHE COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019

	R
Revenue...............................................................................................................	1 777 000
Dividend income .................................................................................................	22 200
Profit on sale of listed share investment ............................................................	12 500
Credit losses (bad debts written off) ..................................................................	11 400
Depreciation.........................................................................................................	56 000
Distribution expenses..........................................................................................	110 100
Administrative expenses .....................................................................................	72 800
Interest expense .................................................................................................	26 700
Income tax expense.............................................................................................	151 000

Additional information

1. All sales and purchases are on credit.

2. Obani-Lababantu CC has a consistent gross profit margin of 45%.

3. On 30 November 2019, the members decided on a profit distribution of R60 000.

Which one of the following alternatives represents the correct amount to be presented as dividends received under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R (2 700)

b.

R 12 500

c.

R (22 200)

d.

R 22 200

e.

R 2 700

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Question 12

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Which one of the following alternatives represents the correct amount to be presented as interest paid under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R (26 700)

b.

R (21 300)

c.

R 21 300

d.

R (24 000)

e.

R 26 700

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Question 13

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Which one of the following alternatives represents the correct amount to be presented as cash receipts from customers under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R 1 731 100

b.

R 1 777 000

c.

R 1 731 000

d.

R 948 000

e.

R 1 742 400

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Question 14

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Which one of the following alternatives represents the correct amount of credit purchases of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R 804 350

b.

R 982 000

c.

R 982 050

d.

R 972 650

e.

R 585 500

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Question 15

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Assume the correct credit purchases amount is R800 000. Which one of the following alternatives represents the correct amount to be presented as cash paid to suppliers and employees under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R 760 800

b.

R 956 700

c.

R 961 500

d.

R 778 600

e.

R 760 700

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Question 16

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Which one of the following alternatives represents the correct amount to be presented as proceeds on sale of listed share investments under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R (23 100)

b.

R 23 800

c.

R 35 600

d.

R 12 500

e.

R 23 100

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Question 17

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Which one of the following alternatives represents the correct amount to be presented as income tax paid under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R (151 000)

b.

R (95 600)

c.

R 28 000

d.

R (28 000)

e.

R (30 400)

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Question 18

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Which one of the following alternatives represents the correct amount to be presented as distributions to members paid under cash flows from operating activities section in the statement of cash flows of Obani-Lababantu CC for the year ended 31 December 2019?

Select one:

a.

R (60 000)

b.

R (99 900)

c.

R (44 000)

d.

R (76 000)

e.

R (36 100)