2 (39 marks) R QUESTION 2 (39 marks) Roundworm Ltd is a group of companies with a...

 2 (39 marks) R

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QUESTION 2 (39 marks) Roundworm Ltd is a group of companies with a 31 December year-end. The Roundworm group financial statements for the years 20.21 and 20.22 are given below: Roundworm Group Ltd Consolidated statement of comprehensive income for the year ended 31 December 20.22 (Extract) Revenue Cost of sales Gross profit Operating expenses Finance costs Share of profits from associate Profit before tax Taxation Other comprehensive income: Gain on revaluation of PPE Profit attributable to: Non-controlling interests - Parent shareholders R 600 000 000 (300 000 000) 300 000 000 (150 000 000) (44 000 000) 17 000 000 123 000 000 (35 000 000) 88 000 000 15 000 000 103 000 000 10 000 000 78 000 000 Total comprehensible income attributable to: - Non-controlling interest - Parent shareholders 88 000 000 12 000 000 91 000 000 103 000 000 Page 5 of 9 QUESTION 2 (39 marks) Roundworm Ltd is a group of companies with a 31 December year-end. The Roundworm group financial statements for the years 20.21 and 20.22 are given below: Roundworm Group Ltd Consolidated statement of comprehensive income for the year ended 31 December 20.22 (Extract) Revenue Cost of sales Gross profit Operating expenses Finance costs Share of profits from associate Profit before tax Taxation Other comprehensive income: Gain on revaluation of PPE Profit attributable to: Non-controlling interests - Parent shareholders R 600 000 000 (300 000 000) 300 000 000 (150 000 000) (44 000 000) 17 000 000 123 000 000 (35 000 000) 88 000 000 15 000 000 103 000 000 10 000 000 78 000 000 Total comprehensible income attributable to: - Non-controlling interest - Parent shareholders 88 000 000 12 000 000 91 000 000 103 000 000 Page 5 of 9

Answer rating: 100% (QA)

To prepare the Consolidated Statement of Cash Flows for Roundworm Group Ltd using the direct method follow these steps 1 Calculate Cash Flows from Operating Activities Begin with revenue and cost of s... View the full answer