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Question 13 Which of the following alternatives represents the correct amount that must be disclosed as interest paid in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022? A. (6 000) B. (9 000) C. (9 000) D. 9000 E. 6 000

Question 13 Which of the following alternatives represents the correct amount that must be disclosed as interest paid in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022? A. (6 000) B. (9 000) C. (9 000) D. 9000 E. 6 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question 13 Which of the following alternatives represents the correct amount that must be disclosed as interest paid in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022? A. (6 000) B. (9 000) C. (9 000) D. 9 000 E. 6 000
Transcribed Image Text:Question 13 Which of the following alternatives represents the correct amount that must be disclosed as interest paid in the cash flows from operating activities section of the statement of cash flows of Phokwane Limited for the year ended 28 February 2022? A. (6 000) B. (9 000) C. (9 000) D. 9 000 E. 6 000
The information below relates to questions 1-20: The following information relates to Phokwane Limited: Extract of items from the statement of financial position information as at 28 February 2022: 2022 2021 R R Land and buildings at cost Furniture and equipment at cost Accumulated depreciation: Furniture and equipment 668 300 397 500 158 300 198 800 33 900 12 000 Loans to director 187 200 198 800 Trade debtors control 44 300 41 400 Interest receivable 6 000 Trade creditors control 26 800 16 400 Mortgage Share capital Retained earnings 62 400 167 000 587 800 519 000 800 200 469 200 Revaluation reserve 134 400 94 400 20 300 7 200 44 400 Current tax receivable Inventory Listed investment at fair value 57 800 235 000 188 600 Bank (Dr) Interest payable 36 700 25 200 10 600 7 600 Dividends receivable 17 500 10 600 Dividends payable 8 600 13 800 Extract of items disclosed in the statement of profit or loss and other comprehensive income information for the year ended 28 February 2022: Gain on financial assets at fair value through profit or loss 19 000 Rental income 17 600 Investment income: Dividend received 9 600 Depreciation (furniture and equipment) Loss on sale of furniture and equipment 35 400 10 400 Interest expense Income tax expense 9 000 154 200 Additional information: 1. Dividends paid to shareholders (in cash) during the year amounted to R100 000. 2. Loans to directors are immediately callable 3. The sale or purchases of property, plant and equipment was in cash.
Transcribed Image Text:The information below relates to questions 1-20: The following information relates to Phokwane Limited: Extract of items from the statement of financial position information as at 28 February 2022: 2022 2021 R R Land and buildings at cost Furniture and equipment at cost Accumulated depreciation: Furniture and equipment 668 300 397 500 158 300 198 800 33 900 12 000 Loans to director 187 200 198 800 Trade debtors control 44 300 41 400 Interest receivable 6 000 Trade creditors control 26 800 16 400 Mortgage Share capital Retained earnings 62 400 167 000 587 800 519 000 800 200 469 200 Revaluation reserve 134 400 94 400 20 300 7 200 44 400 Current tax receivable Inventory Listed investment at fair value 57 800 235 000 188 600 Bank (Dr) Interest payable 36 700 25 200 10 600 7 600 Dividends receivable 17 500 10 600 Dividends payable 8 600 13 800 Extract of items disclosed in the statement of profit or loss and other comprehensive income information for the year ended 28 February 2022: Gain on financial assets at fair value through profit or loss 19 000 Rental income 17 600 Investment income: Dividend received 9 600 Depreciation (furniture and equipment) Loss on sale of furniture and equipment 35 400 10 400 Interest expense Income tax expense 9 000 154 200 Additional information: 1. Dividends paid to shareholders (in cash) during the year amounted to R100 000. 2. Loans to directors are immediately callable 3. The sale or purchases of property, plant and equipment was in cash.
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