financial accounting

consolidation of cash flows

CONSOUDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPPEMENSIVE FOR THE YEAR ENDED 31 DECEMBER 2022 The following additional information has alreadr been taben into account in the fintancial statements above: 1. Included in other expenses in the consolidated profit before tax af the GreenNam Ltd group are the following: - Depreciation on plant and equipment NS480000 - Unrealised exchange gain on foreign debtors (NS127 000) - Realised exchanze loss on lang term loan 105115000 - Profit on sale of plant and equipment NS260 2. Investment in forestry tid GreenNam Ltd acquired 100000 shares in forestoy tid on 2 January 2021 for a cast amount of N $110000 when the equitr of forestry was as follows: Question 2 GreenNam Ltd (GreenNam) is a Nambian company listed on the Namlbian Stock Exchange, incorporated in 2001 and is a retailer of medicinal products. The company has interests in various subsidiaries and has a 31 December vear end. The group accountant of GreenNam, Mary Jane, has requested you to assist in the finalisation of the preparation of the consolidated statement of cash flows for the GreenNam Ltd Group for the vear ended. me following information relates to the Greenkam Ud Group GreenNam LTO GROUP - Share Capital (1000000 shares) N\$ 1000000 - Retained earnings N\$100000 GreenNam Ldd purchased another 500000 shares in Ballet tid for a cach amount of NS1 225000 on 1 January 2022. On this date, GreenNam obtained control over Ballet Ld. The fair value of the plant and equipment (the only asset of Forestry Ltd) was 1$52500000 on that date. 3. Investment in Plantation Ltd GreenNam acquired a 60% interest in Plantation ttd on 1 hawury 2021. On this date, GreenNam obtained control over Plantation. No goodwill arose at acquisition. GreenNam Ltd sold its entire interest in Plantation on 1 Octobes 2022 for N51 366920 . On this date, GreenNam lost control over Plantation Ltd. Particulars of the net assets of Plantation Ltd ot 10 ctober 2022 were as follows: - Plant and Equipment N\$ 1814 - Trade recelvables NS 907200 - Inventory N\$500 - Trade Payables (N5393 000) 4. Interest earned on an investment amounted to NS146900 for the year and is included in other expenses. Included in finance cost is an amount of NS14 300 which was still outstanding on 31 December 2022 5. GreenNam Ltd declared a dividend of N544 250 for the year ended 31 December 2022 6. The short-term portion of lang-term lians included in short-term loans was N57 704 (2021 N\$14 701) 7. No land and buildings were purchased or sold during the year. Plant and Equipment with a cost price of N\$2 000 and a carrying amount of N5709 Was sold for N5989 during the curreat yeat ats estimated that N$12,000 of the current year's purchases of property, plant and equipment wete incurred to expand activities. 8. Casth flows from dividends and interest paid and recelved are classified as operating activities 9. It may be assumed that no impairment of goodwnil took place. Required Decembet 2022 according to the direa method, Communication skillst Presentation and tayout (1 mark) END OF QUESTION PAPER