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Accounting Paper 1, November 2024, question 2.2(a)

Accounting P1 · Cash flow statement
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Mvubu Ltd, financial year ended 28 February 2025. Income tax expense for the year: R412 000 SARS: Income tax on 28 February 2024: R28 400 (credit balance) SARS: Income tax on 28 February 2025: R15 900 (debit balance) Shares in issue on 1 March 2024: 1 000 000 Final dividend for the previous year, paid in this year: 15 cents per share Interim dividend paid on 1 September 2024: R240 000
2.2(a)8 marks
Calculate the taxation paid and the dividends paid that Mvubu Ltd must show in the operating activities section of its Cash Flow Statement. Show both as cash outflows.

NSCBased on Nov 2024 · Paper 1 · Q2.2(a)

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What examiners found

The opening SARS credit was ignored in tax paid, and last year’s final dividend was left out of dividends paid. Outflows were also shown without brackets.

In our words. Source: Department of Basic Education, NSC 2024 Diagnostic Report, Part 1 (Book 1), Q2.2.

Updated