Topwood Ltd is a 40-year-old company producing furniture. 22 years ago, it acquired a 100% interest in
Question:
Topwood Ltd is a 40-year-old company producing furniture. 22 years ago, it acquired a 100% interest in Fleetwood Ltd. In 2011, it acquired a 40% interest in Landscapes Ltd and on 1 April 2013, it acquired a 75% interest in Garden Furniture Ltd. The draft consolidated accounts for the Topwood Group are as follows:
*Inclusive of Rs2,550,000 acquired under finance leases.
3. An item of machinery was sold during the year ended 31 March 2014 for Rs1,500,000.
Required:
(1) Prepare the consolidated statement of cash flows for the year ended 31 March 2014.
(2) Analyse the consolidated statement of cash flows in (1), highlighting the key features of each category of cash flows.
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry