3.1 2.6 Shares & Dividends Some shares were issued during the year and no shares were repurchased. Total dividends (declared & paid) for the year amounted to R416 000. 3.1.1 Complete Note 1: Reconciliation between profit before taxation and cash generated from operations. Net profit before taxation Adjustments for: Depreciation Interest expense Profit on sale of asset Operating profit before changes in working capital Changes in Working Capital (12 000) "Increase/*Decrease in inventory *Increase/*Decrease in receivables *Increase/*Decrease in payables Cash generated from operations "Delete that which does not apply or circle the correct definition of the movement. 3.1.2 Calculate the following Note 1 amounts in the space provided below: Interest on loan (4) Changes in trade & other receivables (2) Changes in inventories (6) 3.2 Complete the cash flow statement for the year ended 28 February 2022. Note Desetebal 1 Cash flow from operating activities Cash generated from operations Dividends paid Interest paid Taxation paid Cash flow from investing activities Fixed assets purchased Proceeds from the sale of fixed assets Cash flow from financing activities Proceeds from the sale of shares Repayment of loan Cash movement for the year Cash balances on 1 March 2021 Cash balances on 28 February 2022 Dividends paid Do not calcolate 812 000 (835 800) 324 000 (511 800) Fixed assets purchased 21:51 Sin ← PDF Scanner 2... 2.13% LANITION DURATION: 1 HR QUESTION 1 MARKS: 50 REFER TO THE INFORMATION RELATING TO MAKATU MACHINES LTD AND COMPLETE THE ASSESSMENT. (36) Makatu Machines Ltd is a South African listed company with an authorised share capital of 1 000 000 shares. They trade in domestic and industrial tools and machines. They predominantly supply the retail market but do have a factory shop that sells to the public. Extract from the Statement of Financial Position (Balance Sheet) as at: 1. Fixed assets (at carrying value) 28 February 2022 R4 613 500 28 February 2021 R2 680 000 Loan: Nizole Bank (8% p.a.) R1 080 000 R1 350 000 Trading inventories ? R1 164 000 Debtors control R665 000 R850 000 SARS (Income Tax) R41 200 (cr) R36 800 (dr) Accrued income (Rent income) R72 600 R66 000 R9 000 R7 200 R168 000 R192 000 Accrued expenses (Interest on loan) Shareholders for dividends Additional information for the year ended 28 February 2022: 2. 2.1 222 2.2 2.3 23 2.4 2.5 Profit . The statement of comprehensive income (income statement) for the year ended 28 February 2022 revealed that the taxation on the net profit amounted to R589 500. The company tax rate is 30%. Fixed Assets • Additional land and buildings were purchased during the year. During the year the company sold old delivery vehicles for R495 000; this resulted in a profit on the sale of the asset of R12 000. Depreciation on all vehicles and equipment amounted to R256 500. Loan • Interest on loan is not capitalised. No new loans were taken out during the year. The loan repayment was made on 1 August 2021. Stock ⚫ Sales totalled R28 700 000 and the cost of sales totalled R16 400 000. The rate of stock turnover was 12,5 times a year. The movement of payables resulted in an outflow of cash of R342 000. 3.1 2.6 Shares & Dividends Some shares were issued during the year and no shares were repurchased. Total dividends (declared & paid) for the year amounted to R416 000. 3.1.1 Complete Note 1: Reconciliation between profit before taxation and ca generated from operations. Net profit before taxation Adjustments for: Depreciation Interest expense Profit on sale of asset III ating profit before changes woking capital Changes in Working Capital (12 000) 31 నూ