The consolidated accounts of Hexagon Bhd for the year ended 31 December 2019 were as follows....

  

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The consolidated accounts of Hexagon Bhd for the year ended 31 December 2019 were as follows. Group Statement of Financial Position for the years ended 31 December 2019 2019 2018 Fixed Assets Investment in Associate company Other Investments Goodwill Current Assets Inventories Trade receivables Deferred tax asset Cash at bank and in hand Equity & Long Term Liabilities Ordinary shares of RM1 each Revaluation Reserve Long term loans Accumulated profits Non-Controlling Interest Current Liabilities Bank overdraft Proposed Dividend Income Tax payable Trade Payables RM'000 3,300 980 130 - 880 570 980 370 7,210 1,500 500 940 1,390 4,330 1,560 500 270 550 7,210 RM'000 2,580 130 500 500 630 555 570 5,465 1,215 500 940 1,060 3,715 150 350 450 100 700 5,465 Consolidated Statement of Comprehensive Income for the year ended 31 December 2019 RM'000 Revenue Cost of Sales Advetising & sales expenses Adminstration expenses Finance costs Operating profit Share of profits of associated companies Profit before tax Tax Profit after tax Profit after tax attributable to: Equity holders of parent Non-Controlling Interest Cash & Bank Fixed Assets Inventory Trade Receivable Trade Payable NCI *********** *** 300 900 350 4,500 200 (150) (1,800) (240) 1.360 2,700 Additional Information: i) Dividend proposed and paid by Hexagon Bhd during the year was RM150,000 Included in the expenses are the following: ii) RM'000 350 440 200 (660) Depreciation of non-current assets Gain on disposal of subsidiary Gain on disposal of fixed assets iii) During the year machinery with of net book value of RM400,000 was sold for RM 600,000 (1,300) iv) On 1 December 2019, Hexagon Bhd sold its 85% holding of the ordinary shares of its subsidiary Square Bhd for a consideration of RM1.8million. The sale price was settled in cash. On that date, the net assets of Square Bhd were as follows: RM'000 (200) (300) v) During the year, Hexagon Bhd acquired a 30% interest in the ordinary shares of Angle Bhd by payment of cash of RM900,000. Required: a) Prepare the consolidated cash flow statement for the year ended 31 December 2019 using the direct method. (13 marks) b) Show the reconciliation of profit before tax to cash flow from operations. (7 marks) The consolidated accounts of Hexagon Bhd for the year ended 31 December 2019 were as follows. Group Statement of Financial Position for the years ended 31 December 2019 2019 2018 Fixed Assets Investment in Associate company Other Investments Goodwill Current Assets Inventories Trade receivables Deferred tax asset Cash at bank and in hand Equity & Long Term Liabilities Ordinary shares of RM1 each Revaluation Reserve Long term loans Accumulated profits Non-Controlling Interest Current Liabilities Bank overdraft Proposed Dividend Income Tax payable Trade Payables RM'000 3,300 980 130 - 880 570 980 370 7,210 1,500 500 940 1,390 4,330 1,560 500 270 550 7,210 RM'000 2,580 130 500 500 630 555 570 5,465 1,215 500 940 1,060 3,715 150 350 450 100 700 5,465 Consolidated Statement of Comprehensive Income for the year ended 31 December 2019 RM'000 Revenue Cost of Sales Advetising & sales expenses Adminstration expenses Finance costs Operating profit Share of profits of associated companies Profit before tax Tax Profit after tax Profit after tax attributable to: Equity holders of parent Non-Controlling Interest Cash & Bank Fixed Assets Inventory Trade Receivable Trade Payable NCI *********** *** 300 900 350 4,500 200 (150) (1,800) (240) 1.360 2,700 Additional Information: i) Dividend proposed and paid by Hexagon Bhd during the year was RM150,000 Included in the expenses are the following: ii) RM'000 350 440 200 (660) Depreciation of non-current assets Gain on disposal of subsidiary Gain on disposal of fixed assets iii) During the year machinery with of net book value of RM400,000 was sold for RM 600,000 (1,300) iv) On 1 December 2019, Hexagon Bhd sold its 85% holding of the ordinary shares of its subsidiary Square Bhd for a consideration of RM1.8million. The sale price was settled in cash. On that date, the net assets of Square Bhd were as follows: RM'000 (200) (300) v) During the year, Hexagon Bhd acquired a 30% interest in the ordinary shares of Angle Bhd by payment of cash of RM900,000. Required: a) Prepare the consolidated cash flow statement for the year ended 31 December 2019 using the direct method. (13 marks) b) Show the reconciliation of profit before tax to cash flow from operations. (7 marks)

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3 Given below are the Consolidated Statements of Financial Position and the Consolidated Statement o... View the full answer