Three Extracts from CFQ's Statement of financial position at 31 March 2021, with comparatives appear below: Property, plant and equipment Non-current asset investments at fair value Deferred development expenditure 31 March 2021 31 March 2020 Rmillion Rmillion 635 645 93 107 29 24 During the year to 31 March 2021, CFQ sold property, plant and equipment for R45m. It had originally cost R322m and had a carrying value of R60m at the date of disposal. CFQ's statement of profit or loss for the year ended 31 March 2021 included: Required: depreciation of property, plant and equipment of R120m; amortisation of deferred development expenditure of R8m; revaluation loss on investments of R21m Prepare the cash flows from the investing activities section of CFQ's statement of cash flows for the year ended 31 March 2021. (10 marks) Question Four On 1 January 2021 PS issued at par, 500,000 R1 5% cumulative preferred shares, redeemable at par in four years. The issue costs were R20,000.PS has not issued preferred shares before and the managing director has asked you to explain how the preferred shares should be treated in the financial statements of PS. Required: Explain with reasons, how PS should: (i) classify the preferred shares in its financial statements for the year ended 31 December 2021, in accordance with IAS 32 Financial Instruments: Presentation; (ii) account for the related costs in accordance with IAS 39 Financial Instruments: Recognition and Measurement. GH, an entity operating in Country X, purchased plant and equipment on 1 April 2019 for R260,000. GH claimed first year allowances and thereafter annual writing down allowances. GH depreciates plant and equipment over 6 years, using the straight line method, assuming a 10% residual value. Required: (i) Define the meaning of the tax base of an asset and its significance for deferred tax. (ii) (4 marks) Calculate the amount of the deferred tax provision that GH should include in its statement of financial position as at 31 March 2021 in respect of this plant and equipment. (6 marks) (10 marks Question One ACZ is a listed entity with six business segments, and reports segmental information under IFRS 8 Operating Segments in its financial statements. Financial information is reported to ACZ's chief operating decision maker on a geographical basis. Each geographical region has separate risk characteristics. The results for the year ended 31 March 2021 are as follows: Internal revenue 150 0 150 20 0 0 320 External revenue 970 320 40 1410 310 180 3,230 Total revenue 1,120 320 190 1,430 310 180 3,550 Segment Profit 56 29 17 155 37 10 304 Segment Assets 2,400 510 430 2,900 590 300 7,130 Product Group A B C D E F Total Required: Explain with reasons which of ACZ's geographical segments will be classified as reportable operating segments in accordance with IFRS 8 Operating Segments. On 1 April 2020 XYK acquired 100% of EZ's 500,000 R1 equity shares. EZ 975 170 at Cost of acquisition Retained earnings 1 April 2020 Retained earnings 230 at 31 March 2021 (Total for sub-question - 5 marks) The fair value of net assets of EZ on 1 April 2020 was R140,000 more than its carrying value. On 31 March 2021 goodwill arising on XYK's investment in EZ had been impaired by 20%. Required: Calculate the goodwill that will be included in XYK's statement of financial position at 31 March 021. )Explain, with supporting calculations, how XYK's consolidated interest in EZ would affect its consolidated statement of financial position at 31 March 2021. (Total for sub-question (d) = 5 marks)