Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given below are the consolidated statements of financial position and the consolidated statement of profit or loss of Rainbow Bhd and its subsidiary Prism

  

Given below are the consolidated statements of financial position and the consolidated statement of profit or loss of Rainbow Bhd and its subsidiary Prism Bhd. Consolidated Statements of Financial Position for the year ended 31 December x5 x4 RM'000 RM'000 Property, plant and equipment 1,350 1,300 Investment in associate company 1,000 900 Inventory 900 500 Trade receivables 500 700 Bank 300 150 4,050 3,550 Ordinary share capital 2,500 2,500 Retained profits 560 260 Non-controlling interest 590 490 Trade payables 400 300 4,050 3,550 Consolidated Statement of Profit or Loss for the year ended 31 December x5 RM'000 Trade payables Consolidated Statement of Profit or Loss for the year ended 31 December x5 400 300 4,050 3,550 RM'000 Profit before tax 495 Share of profit of associate 130 Profit before tax 625 Tax-group (50) Profit after tax 575 Profit after tax attributable to: Equity holders of parent Non-controlling interest 425 150 575 Additional information: a) The tax charge for the year has been paid. b) Group depreciation on property, plant and equipment was RM40,000 and there was no disposal of non-current assets during the year. c) Investment in associate is equity accounted and was impaired by RM10,000. Required: Prepare the group statement of cash flows using indirect method.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Here are the stepbystep workings 1 Profit before tax from consolidated statement of profit or loss R... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Financial Accounting

Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald

1st Canadian Edition

1118849388, 9781119048572, 978-1118849385

More Books

Students also viewed these Finance questions

Question

10. Enhance the credibility of a qualitative research design.

Answered: 1 week ago