Net investing cash flows LO5 The statement of financial position of Lilac Ltd at 30
Question:
Net investing cash flows LO5 The statement of financial position of Lilac Ltd at 30 June 2019 recorded the following items. 30 June 2018 30 June 2019 Land, at independent valuation $100 000 $120 000 Plant, at cost 70 000 85 000 Accumulated depreciation (20 000 ) (28 000) Investments at fair value through OCI 30 000 40 000 Goodwill 25 000 20 000 Land revaluation surplus 20 000 34 000 Investments revaluation reserve 5 000 11 000 Additional information • Impairment of goodwill was $5000 in the year ended 30 June 2019. • There were no acquisitions or disposals of land. • There were no disposals of plant or investments. • The land revaluation surplus increase is net of deferred tax of $6000. • The investments revaluation reserve increase for the year is net of deferred tax of $2000. Required Prepare the investing section of the statement of cash flows for Lilac Ltd for the year ended 30 June 2019.
Step by Step Answer:
Financial Reporting
ISBN: 978-0730363361
2nd Edition
Authors: Janice Loftus ,Ken Leo ,Sorin Daniliuc ,Belinda Luke ,Hong Nee Ang ,Karyn Byrnes