QUESTION 1 The following abridged information is available TACLE LTD STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20.8; 20.8 20.7 Rand Rand ASSETS Non-current assets Property plant and equipment Investment in associate 546 200 453 200 93 000 457 700 405 200 52 500 Current assets Inventories Trade and other receivables 49 800 16 000 33 800 34 700 15 800 18 900 596 000 492 400 Total assets EQUITY AND LIABILITIES Total equity Share capital Retained earnings Type here to search 383 000 29 000 307 500 239 500 13 000 180 000 D 3 H EQUITY AND LIABILITIES Total equity Share capital Retained earnings Other component of equity 383 000 29 000 307 500 46 500 239 500 13 000 180 000 46 500 213 000 252 000 Total liabilities Non-controlling liabilities Long term borrowings 177 000 177 000 182 000 182 000 36 000 70 900 Current Liabilities Trade and other payables Current tax payable Shareholders for dividends Short-term borrowings Bank overdraft 7500 7 000 4 000 5 000 12 500 17 900 12 000 3 000 3 000 35 000 596 000 492 400 Total equity and liabilities TACLE LTD Type here to search O 1 HH Additional information: 1. Profit before tax is stated after taking the following into account: Interest paid Depreciation on machinery and equipment Profit on sale of machinery and equipment 18 000 58 000 1 500 2. During the year machinery and equipment were purchased for R12 500 to replace machinery and equipment with a carrying amount of R2 500, which were sold 3. Property, plant and equipment consist of the following Land at cost Machinery and equipment at carrying amount 296 500 156 700 296 500 108 700 Required 1. Prepare the statement of cash flow, using the direct method, of the Tackle Ltd for the year ended 31December 208, in accordance with the requirement of International Financial Reporting Standard (IFRS). Ignore comparative amount [30] I For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI S Paragraph Arial 14px 2100 09 DENG WA i Type here to search 596 000 492 400 Total equity and liabilities TACLE LTD Consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 20.8. Rand Revenue 550 000 Cost of sales (300 000) Gross Profit 250 000 Other expenses (99 000) Share of profit of associate 54 500 Dividend received 14 000 Retained equity profit of associates 40 500 Profit before tax 205 500 Income tax expense 57 450 Profit for the year 148 050 Other comprehensive income Total comprehensive income for the year 148 050 TACLE LTD Consolidated statement of changes in equity for the year ended 31 December 20,8 A Rand B Rand D Rand Rand il O + 3 Type here to search TACLE LTD Consolidated statement of changes in equity for the year ended 31 December 208 A Rand B Rand Rand D Rand 13 000 46 500 180 000 239 500 Balance at 1 January 2008 Changes in equity for 20.8 Profit/total comprehensive Income for the year Dividends Issue of share capital Balance at 31 December 20.8 148 050 (20 550) 16 000 29 000 46 500 307 500 383 000 A= Share capital B= Retained earnings C= Non-controlling interest D= Total equity Additional information: 1. Profit before tax is stated after taking the following into account 2 !! Type here to search