B407F Week 11 Tutorial question-1 拷貝

B407F Week 11 Tutorial question-1 拷貝

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1 B407F Week 11 Tutorial - Consolidated Statement of cash flows Question 1 Drafted consolidated statement of financial position for A Group as at 31 December: Year 1 Year 0 $’000 $’000 $’000 $’000 ASSETS Non-current assets Machinery at net book value 3,088 2,257 Goodwill 209 260 Investment in associated company 1,560 4,857 1,038 3,555 Current assets Inventories 1,128 1,236 Accounts receivable 2,631 1,920 Cash and cash equivalents 220 3,979 447 3,603 Total assets 8,836 7,158 EQUITY AND LIABILITIES Equity attributable to equity holders of the parent Ordinary shares @$1 each 2,170 1,050 Share premium account 330 260 Retained earnings 2,345 1,773 4,845 3,083 NCI 300 200 Total equity 5,145 3,283 Non-current liabilities Loan 1,500 2,400 Total non-current liabilities 1,500 2,400 Current liabilities Accounts payable 1,143 940 Tax payable 646 535 Bank overdrafts 402 - Total current liabilities 2,191 1,475 Total equity and liabilities 8,836 7,158
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2 Draft consolidated statement of income for the year ended 31 December Year 1. $’000 $’000 Turnover 7,933 Cost of sales (3,425) Gross profit 4,508 Loss on disposal of machine (30) Impairment on goodwill (241) Distribution cost (884) Depreciation (230) Administration cost (1,005) Profit from operations 2,118 Finance cost (338) Share of profits of associated company 835 Profit before tax 2,615 Taxation - Group 948 - Associate 240 1,188 Profit for the period 1,427 Attributable to: Equity holders of the parent 1,163 NCI 264 The following information is available: 1. Machinery with a written down value of $430,000 was sold during the year for $400,000. 2. During the year, 80% of the ordinary share capital of S Ltd. has been acquired. Details of the acquisition are as follows: $’000 Non-current assets 450 Inventory 230 Accounts receivable 300 Bank 180 Accounts payable (490) 670 NCI (134) 536 Goodwill 190 726 Satisfied by issue of shares 20 Cash 706
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3 3. It is group policy to recognize goodwill arising on acquisition using proportionate method and recorded as an asset less any accumulated impairment losses. 4. Movements of retained earnings during the year are as follows: $’000 Balance at 1 January Year 1 1,773 Net profit for the year 1,163 Profit available for appropriation 2,936 Dividend paid (591) Balance at 31 December Year 1 2,345 Required: Prepare the statement of cash flows for A Group for the year ended 31 December Year 1
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This note was uploaded on 02/24/2012 for the course ACT 407 taught by Professor Mshui during the Fall '11 term at The Open University.

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B407F Week 11 Tutorial question-1 拷貝

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