Heady Ltd provides the following information for the period ended 30 June 2014: $\begin{array}{|l|r|} \hline& \$ 0 \\ \hline \text { Opening balance loans } & 200 \\ \hline \text { Closing balance loans } & 450 \\ \hline \text { Opening balance of interest payable } & 90 \\ \hline \text { Closing balance of interest payable } & 84 \\ \hline \text { Interest expense } & 10 \\ \hline \text { Opening balance of retained earnings } & 670 \\ \hline \text { Closing balance of retained earnings } & 710\\ \hline \text { Opening balance of share capital } & 6000 \\ \hline \text { Closing balance of share capital } & 6890 \\\hline \text { Opening balance of dividends payable } & 540 \\ \hline \text { Closing balance of dividends payable } & 600 \\ \hline \text { Dividends proposed (statement of comprehensive income) } & 600 \\ \hline \text { Opening balance asset revaluation reserve } & 740 \\ \hline \text { Closing balance asset revaluation reserve } & 900 \\ \hline \text { Purchase of land for shares with market value of } & 890\\ \hline \end{array}$ During the period Sonic Co Ltd issued debentures with a face value of $2 000 000 at a discount of $260 000.All transactions are in cash unless otherwise indicated.What is the net cash flow from financing activities for the period?

A) Net cash outflow $1 450 000 B) Net cash outflow $6000 C) Net cash inflow $1 154 000 D) Net cash inflow $1 390 000 A) Net cash outflow $1 450 000 B) Net cash outflow $6000 C) Net cash inflow $1 154 000 D) Net cash inflow $1 390 000

DryGrass Ltd provides the following information that relates to the period ended 30 June 2015: $\begin{array}{|l|r|} \hline & \$ 0 \\ \hline \text { Sales for the year } & 780 \\ \hline \text { Discounts provided to customers for early payment } & 65 \\ \hline \text { Bad debts expense } & 20 \\ \hline \text { Opening balance of accounts receivable } & 330 \\ \hline \text { Closing balance of accounts receivable } & 250 \\ \hline \text { Sales returns } & 35 \\ \hline \end{array}$ What amount of cash was received from customers during the year?

A) $775 000 B) $580 000 C) $740 000 D) $615 000 A) $775 000 B) $580 000 C) $740 000 D) $615 000

Mogull Ltd provides the following information for the period ended 30 June 2015: $\begin{array}{|l|r|} \hline & \$ 0 \\ \hline \text { Interest expense } & 80 \\ \hline \text { Opening balance interest payable } & 30 \\ \hline \text { Closing balance interest payable } & 45 \\ \hline \text { Debentures (liability) premium amortisation } & 2 \\\hline \text { Income tax expense } & 18 \\ \hline \text { Opening balance income tax payable } & 6 \\ \hline \text { Closing balance income tax payable } & 9 \\ \hline \text { Opening balance deferred tax asset } & 5 \\\hline \text { Closing balance deferred tax asset } & 8 \\ \hline \text { Dividend revenue } & 19 \\ \hline \text { Opening balance of dividend receivable } & 8 \\ \hline \text { Closing balance of dividend receivable } & 7\\ \hline \end{array}$ What are the cash flows from interest,dividends and tax for the period?

A) Cash outflow from interest $97 000; cash inflow from dividends $18 000; cash outflow tax $24 000 B) Cash outflow from interest $67 000; cash inflow from dividends $20 000; cash outflow tax $12 000 C) Cash outflow from interest $63 000; cash inflow from dividends $4000; cash outflow tax $18 000 D) Cash outflow from interest $7000; cash inflow from dividends $20 000; cash outflow tax $16 000 A) Cash outflow from interest $97 000; cash inflow from dividends $18 000; cash outflow tax $24 000 B) Cash outflow from interest $67 000; cash inflow from dividends $20 000; cash outflow tax $12 000 C) Cash outflow from interest $63 000; cash inflow from dividends $4000; cash outflow tax $18 000 D) Cash outflow from interest $7000; cash inflow from dividends $20 000; cash outflow tax $16 000