Given below are the consolidated statements of financial position and the consolidated statement of profit or...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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. 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.
Expert Answer:
Answer rating: 100% (QA)
Here are the stepbystep workings 1 Profit before tax from consolidated statement of profit or loss R... View the full answer
Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
Posted Date:
Students also viewed these finance questions
-
Given below are the consolidated statements of financial position and the consolidated statement of comprehensive income for Marry Ann Bhd. Additional information: The tax charge for the year and the...
-
Use the following data to calculate cost of merchandise sold under the FIFO method. September 1 Beginning Inventory 15 units at $20 each September 10 Purchase 20 units at $25 each September 20...
-
The file Indices contains data that represent the total rate of return percentage for the Dow Jones Industrial Average (DJIA), the Standard & Poor's 500 (S&P 500), and the technology-heavy NASDAQ...
-
A small insect is placed 4.85 cm from a +5.00-cm focal-length lens. Calculate (a) The position of the image, and (b) The angular magnification.
-
Go to the library and locate three examples of research studies in your area of interest in which linear regression was used. It's okay if a study contains more than one predictor variable. Answer...
-
The Caplans own a real estate lot, and they contract with Faithful Construction, Inc., to build a house on it for $360,000.The specifications list all plumbing bowls and fixtures . . . to be Crane...
-
How do power imbalances, whether structural or interpersonal, impact the dynamics of conflict resolution processes, and what strategies can be employed to address these imbalances and promote...
-
Q.5). Solve dx2 + 2p+(p2 + q)y = eax + pqx?. (7+7) dx
-
Hi - Low Ltd has analysed its distribution costs and activity over the past 3 months and these are as follows: Monthly Distribution costs Units sold January 1 6 1 , 0 0 0 5 0 , 0 0 0 February 2 5...
-
Consumer Good Application The course spreadsheet located below contains an Assigned Consumer Good and a link to the Federal Reserve website...
-
When working in a group setting, what are some of the strategies you would implement to encourage group cohesiveness and reduce social loafing?
-
Thomas Company began its operations in 2 0 2 7 and applies overhead costs to jobs using a pre - determined overhead rate equal to 6 0 % of direct labor cost. During 2 0 2 7 , Thomas Company began...
-
Clark Company's current year income statement, comparative balance sheets, and additional information follow. For the year. (1) all sales are credit sales. (2) all credits to Accounts Receivable...
-
Tool Depot is a U.S. home improvement retailer with two stores. Theycurrently have two suppliers for the three products that they sell: wrenches, drills, and saws. Suppliers ship product directly to...
-
Select the correct answer for each of the following questions. 1. On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its...
-
Little Tots Ltd. sells childrens clothing. At the end of December 2016 (its first year of operations), it had the following account balances: Accounts receivable ..................$ 2,500 Rent...
-
Identify and explain three typical ways in which bonds differ from loans.
-
A. J. Smith Company started business on January 1, 2016, and the following transactions occurred in its first year: 1. On January 1, the company issued 12,000 common shares at $25 per share. 2. On...
-
An orthotropic AS/3501 carbon/epoxy lamina (see Tables 2.2 and 4.1) is subjected to the plane stress condition \(\sigma_{x}=1000 \mathrm{MPa}, \sigma_{y}=50 \mathrm{MPa}\), and \(\tau_{x y}=50...
-
Determine the longitudinal tensile strength of the hybrid carbon/aramid/ epoxy composite described in Problem 3.4 and Figure 3.10 of Chapter 3 if the fiber packing array is square with the closest...
-
Compare and discuss the estimated longitudinal compressive strengths of Scotchply 1002 E-glass/epoxy based on (a) fiber microbuckling and (b) transverse tensile rupture. Assume linear elastic...
Study smarter with the SolutionInn App