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Hi, Require help with question 7.9 in the attached Thank you chapter w$w Cost of acquisi[on Cuh cusideralhn Fair value of 36fl) snhidiuy net assee

Hi, Require help with question 7.9 in the attached Thank you

image text in transcribed chapter w$w Cost of acquisi[on Cuh cusideralhn Fair value of 36fl) snhidiuy net assee at date of acguisifron equivahnb lrwenbries Trade receiYaDles lmomehx payabb Trade ard ffier payables Term loan Ditrerence-@'villmq.ri$tion '150 Cash arts cash * lnter*t payments 4gg) 1190 020) (21m) 0000) 2950 ?m are classified ts an operating cash flow Rquircd Prepare the consolidated staternent of cash flows of the Leo Sfri Ltd group for the year ffided 30 June 2OX2in accordance with AASB 107. lnclude a rpte to reconcile profit with cash flows from operating activities. E7.9 Acquisition of a subsldlary asset revaluation and related tax effect (*cfior'r. 7.a) JennyXao Ltd is a parent entity in a group that is a reporting entity. Comparative consolidated staternents of financial position and a consolidated statsnent of comprehensive income and consdidated staternent of ctanges in equity of the Jenny Xao Ltd group for the par wrded 30 June 20)12 xe shown below. Jenny Xiao Lfr grunp CtrtslidaW datenpntof wmprdwslrc lncone foryaarended $Jum rewud6fidt NirWffilivtw rwrnue Profitonsaleofhrd Sales 20X2 ww 504 S E(E EJAerFos Cost dsalg e4q SaHies (120) Dou0frrldebb (5) IhpreciatorFnuiHing o Defuciafior+$ipnrcnt Lossm* (4) of equlpmc{t (1) (8) 0fier operaling expelrces (388) trofit bturc lncune tr)( 121 Irmnebx Brpsre (30) ffitturfie perhd 91 Mwwrgdwx*ye ilwrc Asset revahlalion fur land Asse,t 25 revalualifi tu tuiHings lrEome tax rslathg b 5 componenb of tlher cunprdrnsive incone fur dw comprehsnsirre inoome tr year, net of hx (e) 21 1't2 coNSoLtDATED CASH FLOW STATEMENTS ffi, Jenny Xiao Lttl girwp Corpoltdated staEned of financtel psltton at $ June t2 w afiffiwts Hr arxl ca$ equivahnt ilN' w 25 lnveflffies 24 26 Trd& Iceiva0ls 43 35 LessProftim fur doubUul doffi (4) (3) l.and 280 240 Buildkrgs 193 160 thn-caffefita6s,s (20) tessAmrndabd @recidon Eqipmflt less Accumdabd deprecialktn 70 74 (12!. (11 32 Gmdwitlonquhfrgr 502 Ailrsrt liabifr'lir ffior payablcs 42 39 werdrafi 21 90 lrnome tax payable 21 18 2N 200 39 1.+ 170 100 Trade arxl Bank lfrr-a$ratHin*B Long-term hds Deiend to( lirDility Wtty buted capiH naremlitm $rdus Rstained amings 31 10 tl 21 651 edffi Bahtce 1 JuU AX1 Pmccsls of SEre issle *#.8# 100 lffi!q$fry w0 w 21 13'l 7A 70 112 ToEl corprfiersive income lor $e ymr 91 hElimdivideill@ e5) (25) 87 288 Balance 30 'ffi w BcblrEd eamws Jrp CI) AccouNTlNG for Corporate Combinations and Associations '170 chapter Add iti anal i nfo rmati on * On 30 June 20)Q, Jenny Xao Ltd acquircd 1@% of the shares in Jing Ltd for a cash consideration of $28 0@. The fair value of the net assets of Jing Ltd at the time of acquisition was: w lmenhries 3 Trde Eceivables 2 Trade and oher payabbs (4) 1 * * * * * hdwillon ffiruisitisr 27 Considerdoo 28 Land and buildings were revalued by directors based on ftrture economic benefits as at 30 Jure 20X3. The revraluation incrernent was $25 00O for land and $5OO0 for buildings. Equiprnent with a carryirq amount of $2000 (coS $4000 and accumulated dqrcciation $20OO) was sold for $'10O0. Assume all other transactions result in a cash flow unless otherwise stated above or clearly implied by the nature of the transaction. Land with a carrying amount of $60 000 was sold for $OS Om. The company incorne tax rate is 3O%. Rquired Prepare the consolidated staternent of cash flows for the Jenny Xao Ltd group for the year ended 3O June 20X3. Attach a note that reconciles profit with cash flows from operating activities. E7.10 Acquisftion of a subsidiary asset revaluatlon ard rrdated tax effect (*c'tfion 7.a) The financial statements of the Christine Ltd group for the year ended 31 December 2O){2 are due for lodgement with the Australian Securities and lnvestments Commission. Set out below are the consolidated statement of comprehensive income and statement of changm in equity for 20X1 and the consolidated statements of financial position for 20X0 and 20X1. coNSouDArED oASH FLow srArEMENrs %j

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