Given below are the consolidated statements of financial position and the consolidated statement of profit or...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Given below are the consolidated statements of financial position and the consolidated statement of profit or loss of Rainbow Bhd and its subsidiary Prism Bhd. Consolidated Statements of Financial Position for the year ended 31 December x5 x4 RM'000 RM'000 Property, plant and equipment 1,350 1,300 Investment in associate company 1,000 900 Inventory 900 500 Trade receivables 500 700 Bank 300 150 4,050 3,550 Ordinary share capital 2,500 2,500 Retained profits 560 260 Non-controlling interest 590 490 Trade payables 400 300 4,050 3,550 Consolidated Statement of Profit or Loss for the year ended 31 December x5 RM'000 Trade payables Consolidated Statement of Profit or Loss for the year ended 31 December x5 400 300 4,050 3,550 RM'000 Profit before tax 495 Share of profit of associate 130 Profit before tax 625 Tax-group (50) Profit after tax 575 Profit after tax attributable to: Equity holders of parent Non-controlling interest 425 150 575 Additional information: a) The tax charge for the year has been paid. b) Group depreciation on property, plant and equipment was RM40,000 and there was no disposal of non-current assets during the year. c) Investment in associate is equity accounted and was impaired by RM10,000. Required: Prepare the group statement of cash flows using indirect method. Given below are the consolidated statements of financial position and the consolidated statement of profit or loss of Rainbow Bhd and its subsidiary Prism Bhd. Consolidated Statements of Financial Position for the year ended 31 December x5 x4 RM'000 RM'000 Property, plant and equipment 1,350 1,300 Investment in associate company 1,000 900 Inventory 900 500 Trade receivables 500 700 Bank 300 150 4,050 3,550 Ordinary share capital 2,500 2,500 Retained profits 560 260 Non-controlling interest 590 490 Trade payables 400 300 4,050 3,550 Consolidated Statement of Profit or Loss for the year ended 31 December x5 RM'000 Trade payables Consolidated Statement of Profit or Loss for the year ended 31 December x5 400 300 4,050 3,550 RM'000 Profit before tax 495 Share of profit of associate 130 Profit before tax 625 Tax-group (50) Profit after tax 575 Profit after tax attributable to: Equity holders of parent Non-controlling interest 425 150 575 Additional information: a) The tax charge for the year has been paid. b) Group depreciation on property, plant and equipment was RM40,000 and there was no disposal of non-current assets during the year. c) Investment in associate is equity accounted and was impaired by RM10,000. Required: Prepare the group statement of cash flows using indirect method.
Expert Answer:
Answer rating: 100% (QA)
The statement of cash flows for the year ended 31 December x5 Operating Activities Net Income Ad... View the full answer
Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
Posted Date:
Students also viewed these finance questions
-
Given below are the consolidated statements of financial position and the consolidated statement of comprehensive income for Marry Ann Bhd. Additional information: The tax charge for the year and the...
-
Use the following data to calculate cost of merchandise sold under the FIFO method. September 1 Beginning Inventory 15 units at $20 each September 10 Purchase 20 units at $25 each September 20...
-
The file MobileCommerce contains the following mobile commerce penetration values, the percentage of the country population that bought something online via a mobile phone in the past month, for...
-
Rising Past Pty Ltd manufactures a complete line of fibreglass attach cases and suitcases. The firm has three manufacturing departments: Moulding, Component and Assembly. There are also two support...
-
Have you ever read in the newspapers about the types of people who engage in company misdeeds?
-
Moonbeam Company manufactures toasters. For the first 8 months of 2017, the company reported the following operating results while operating at 75% of plant capacity: Sales (350,000...
-
A firm selling a normal good has a price elasticity of demand coefficient of 3.0 and an income elasticity of demand coefficient of 2.2. Assume that economists forecast a recession within the next...
-
Mendel found that yellow pea pod color (G) was dominant to green pea pod color (g). For each of the crosses below, what percentage of offspring are expected to be yellow? GG x gg 88 Gg x Gg Gg x gg...
-
Genetic Engineering Research Studies Ltd (GERS) has hired you as a consultant to evaluate the NPV of its proposed toad house. GERS plans to breed toads and sell them as ecologically desirable insect...
-
Annie, Blake, and Cornelia are triplets who are trying to decide on a name for their new bakery. They have narrowed their decision down to three choices, and the preferences of each are listed in the...
-
Sony International has an investment opportunity to produce a new 100-inch widescreen TV. The required investment on 1 January of this year is $32 million. The firm will depreciate the investment to...
-
The following table shows imports and exports of goods during the first half of 2018 for the United States: What, if anything, can you conclude about the comparative advantage that the United States...
-
What is a futures contract? What are the advantages and disadvantages of futures contracts?
-
Some people believe that marketing is relevant only in affluent, industrialized countries, whereas others believe that the role of marketing is to identify people's needs and wants worldwide,...
-
Use the T account for Cash below to record the portion of each of the following transactions, if any that affect cash. How do these transactions affect the companys liquidity? Jan. 2 Provided...
-
Little Tots Ltd. sells childrens clothing. At the end of December 2016 (its first year of operations), it had the following account balances: Accounts receivable ..................$ 2,500 Rent...
-
Identify and explain three typical ways in which bonds differ from loans.
-
A. J. Smith Company started business on January 1, 2016, and the following transactions occurred in its first year: 1. On January 1, the company issued 12,000 common shares at $25 per share. 2. On...
-
Macquarie Manufacturing Ltd prepared the following planned production data for the forthcoming year ending 30 June 2019. Required (a) Prepare a table showing the predetermined factory overhead rate...
-
Beautiful Bottles Pty Ltd, bottle manufacturer for the food industry, has just installed a job order costing system. The company uses machine hours to apply its overhead to work in process. On 1 May...
-
Green Consultants Pty Ltd specialise in consulting on landscape design. The company developed a predetermined charge-out rate based on hours for each of its consultants on 1 July 2019 to assign the...
Study smarter with the SolutionInn App