advanced financial accounting and reporting QUESTION 1 Ace Bhd, established a few years ago with a primary

advanced financial accounting and reporting

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QUESTION 1 Ace Bhd, established a few years ago with a primary focus on spearheading a range of renewable energy projects and associated ventures, has undergone a transformative journey since its inception. Initially dedicated to advancing sustainability through innovative projects, the company has strategically broadened its horizons by venturing into key acquisitions. Notable among these acquisitions are SolarTech Bhd, a pioneering entity in solar technology solutions, and EcoPower Bhd, renowned for its commitment to eco-friendly power generation. In addition, Ace Bhd took a significant step forward by incorporating GreenGen Bhd into its portfolio. The following are the financial statements of the companies for the financial year ending 31 December 2022: Statement of Financial Position as at 31 December 2022 Ace Bhd GreenGen RM million RM million SolarTech EcoPower Bhd Bhd RM million Bhd RM million ASSETS Property, plant and equipment Investment in SolarTech Bhd 660 340 320 150 398 Investment in EcoPower Bhd 159 - Investment in GreenGen Bhd 46 - Other investments 82 30 Intangibles 48 40 10 Inventory Bills receivable Trade receivables Bank 83 61 54 23 25 10 8 3 67 24 12 9 125 21 14 6 1534 685 418 191 EQUITIES AND LIABILITIES Ordinary shares issued at RM1 each 1,000 400 200 100 10% Preference shares issued at RM1 50 10 each Other component of equity 10 6 3 2 Retained profits 381 248 206 87 10% Debentures issued at RM1 each 20 5 - - Long Term loan 40 - Bills payable 12 5 3 1 Trade payables 21 11 6 0.8 1534 685 418 191 Statement of Profit of Loss for the Year Ended 31 Ace Bhd SolarTech December 2022 EcoPower Bhd Bhd GreenGen Bhd RM million RM million RM million RM million Revenues 250 Cost of Sales (74) 125 (26) 114 89 (18) (11) Gross Profit 176 99 96 78 Investment Income 32 24 Other Income 10 7 4 0.8 Administrative Expenses (34) (25) (16) (5) 2 QUESTION 1 Ace Bhd, established a few years ago with a primary focus on spearheading a range of renewable energy projects and associated ventures, has undergone a transformative journey since its inception. Initially dedicated to advancing sustainability through innovative projects, the company has strategically broadened its horizons by venturing into key acquisitions. Notable among these acquisitions are SolarTech Bhd, a pioneering entity in solar technology solutions, and EcoPower Bhd, renowned for its commitment to eco-friendly power generation. In addition, Ace Bhd took a significant step forward by incorporating GreenGen Bhd into its portfolio. The following are the financial statements of the companies for the financial year ending 31 December 2022: Statement of Financial Position as at 31 December 2022 Ace Bhd GreenGen RM million RM million SolarTech EcoPower Bhd Bhd RM million Bhd RM million ASSETS Property, plant and equipment Investment in SolarTech Bhd 660 340 320 150 398 Investment in EcoPower Bhd 159 - Investment in GreenGen Bhd 46 - Other investments 82 30 Intangibles 48 40 10 Inventory Bills receivable Trade receivables Bank 83 61 54 23 25 10 8 3 67 24 12 9 125 21 14 6 1534 685 418 191 EQUITIES AND LIABILITIES Ordinary shares issued at RM1 each 1,000 400 200 100 10% Preference shares issued at RM1 50 10 each Other component of equity 10 6 3 2 Retained profits 381 248 206 87 10% Debentures issued at RM1 each 20 5 - - Long Term loan 40 - Bills payable 12 5 3 1 Trade payables 21 11 6 0.8 1534 685 418 191 Statement of Profit of Loss for the Year Ended 31 Ace Bhd SolarTech December 2022 EcoPower Bhd Bhd GreenGen Bhd RM million RM million RM million RM million Revenues 250 Cost of Sales (74) 125 (26) 114 89 (18) (11) Gross Profit 176 99 96 78 Investment Income 32 24 Other Income 10 7 4 0.8 Administrative Expenses (34) (25) (16) (5) 2