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    Q6 Tabethe Limited

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    amosmalusi5
    Thabethe Limited's financial records for 2014 show an increase in share capital and reserves with higher bank balances and investments. Land and buildings were revalued upwards while inventory decreased. Creditors also reduced. The statement of cash flows will show cash received from customers, cash paid to suppliers, and cash flows from investing and financing activities including the vehicle and equipment transactions.

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    Q6 Tabethe Limited

    Uploaded by

    amosmalusi5
    5 views2 pages
    Thabethe Limited's financial records for 2014 show an increase in share capital and reserves with higher bank balances and investments. Land and buildings were revalued upwards while inventory decreased. Creditors also reduced. The statement of cash flows will show cash received from customers, cash paid to suppliers, and cash flows from investing and financing activities including the vehicle and equipment transactions.

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    Accounting

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    Thabethe Limited's financial records for 2014 show an increase in share capital and reserves with higher bank balances and investments. Land and buildings were revalued upwards while inventory decreased. Creditors also reduced. The statement of cash flows will show cash received from customers, cash paid to suppliers, and cash flows from investing and financing activities including the vehicle and equipment transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views2 pages

    Q6 Tabethe Limited

    Uploaded by

    amosmalusi5
    Thabethe Limited's financial records for 2014 show an increase in share capital and reserves with higher bank balances and investments. Land and buildings were revalued upwards while inventory decreased. Creditors also reduced. The statement of cash flows will show cash received from customers, cash paid to suppliers, and cash flows from investing and financing activities including the vehicle and equipment transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Question 1: Thabethe Limited

    The following is an extract from the financial records of Thabethe limited for the year ended 31
    December 2014
    2014 2013
    Ordinary share capital 165 000 133 000
    General reserve 6 000
    Bank 89 000 74 000
    Investment 45 000 30 000
    Inventory 65 000 75 000
    Trade receivable 60 000 73 000
    Revaluation of land and building 72 000
    Accumulated profits 120 000 70 000
    Long term loan 174 500 90 000
    Creditors 110 000 121 000
    SARS 27 000 38 000
    Land and building 372 000 300 000
    Shareholders for dividends 43 000 39 0000
    Vehicle at cost price 250 000 170 000
    Accumulated depreciation on vehicle 80 000 65 000
    Equipment at cost price 275 000 260 000
    Accumulated depreciation on equipment 55 000 45 000

    The following was also extracted from the Statement of profit and loss and other comprehensive
    income for two years:

    Additional information:

    1 . Equipment originally costing R 50 000 was sold for cash during the year for R40 000 and a
    profit of R22 000 was realized.

    2. Land and buildings were revalued during the year.

    3. Cash received from customers and cash paid to suppliers amount to R1 235 000 and
    R1 144 000.

    You are required to:


    1. Prepare the statement of cash flow for the year ended 31 December 2014. (13)

    2. Show all your calculations (9)

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