Please show all the working The consolidated statement of profit or loss for Alliance Group for the year ended 31 December2017 is shown below:RM'00012,000(8,400)3,600(400)(1,260)(450)RevenueCost of salesGross profitDistribution costsAdministrative expensesFinance costsShare of profit of associateProfit before tax5001,990(600)1,390Income taxProfit for the yearAttributable to:Owners of the parentNon-controlling interest1,2001901,390Additional information:1. There were no disposals of property, plant and equipment in the year. Depreciation chargedin arriving at profits totaled RM1,800,000.2. Alliance Group acquired 90% of the ordinary shares of Atiya Bhd on 1 September 2017 fora cash consideration of RM460,000 plus the issue of 1 million ordinary share of AllianceGroup which had a deemed value of RM3.60 per share at the date of acquisition. The fairvalues of the net assets acquired were as follows:RM’000Property, plant and equipment800Inventories2,200ReceivablesCash and cash equivalentsPayables700200(500)3.400Alliance Group made no other purchases or sales of investments in the year. The grouppolicy is to value the net assets.3. Finance costs include interest on loans and any gains on held for trading investments. Allinterest due was paid in the year.Required:Prepare the Consolidated Statement of Cash Flows for Alliance Group for the year ended 31December 2017. The consolidated statement of financial position of Alliance Group as at 31 December 2017 andthe comparative for 2016 are shown below:20172016RM'000RM'000AssetsNon-current assetsProperty, plant and equipment16,80015,600Goodwill2,9008,00027,7002,4007,80025,800Investment in associateCurrent assetsInventories11,6009,40012,0008,2001,800Account ReceivablesHeld for trading investmentCash and cash equivalent2,2001,40024,60052,3004,10026,10051,900Total assetsEquity and LiabilitiesEquity attributable to owners of theparentOrdinary shares (issued at RM1.00)Capital surplusRetained earnings14,80010,000400400_ 7,30022,5006,50029,0006,30016,7006,100Non-controlling interestTotal equity22,800Non-current liabilitiesLong term loans14,00018,000Current liabilitiesAccount Payables8,70010,200Income tax6009009,30023,30052,30011,10029,10051,900Total liabilitiesTotal equity and liabilities

A consolidated cash flow statement comprises cash flows from operating, investing, and financing,…

The consolidated statement of profit or loss for Alliance Group for the year ended 31 2017 is shown below: RM'000 Revenue 12,000 Cost of sales (8,400) 3,600 (400) (1,260) (450) 500 Gross profit Distribution costs Administrative expenses Finance costs Share of profit of associate Profit before tax 1.990

The consolidated statement of profit or loss for Alliance Group for the year ended 31 2017 is shown below: RM'000 Revenue 12,000 Cost of sales (8,400) 3,600 (400) (1,260) (450) 500 Gross profit Distribution costs Administrative expenses Finance costs Share of profit of associate Profit before tax 1.990

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The summarized Statement of Financial Position of P Bhd. and S Bhd. as at 31December 2016 is shown below: P Bhd.RM ‘000 S Bhd.RM ‘000 Non – current assetsProperty, plant &equipment 720 160 Investment in SBhd. 185 Current assets 175 951,080 255Share capital 400 100Retained earnings b/f 500 60Retained earnings –current year 60 12Current liabilities 120 831,080 255 Additional information:(i) P Bhd. acquired 60% of S Bhd. on the date of acquisition (1/7/2016) (ii) P Bhd. adopts the proportional net assets value method in valuation of non-controlling interest. (iii) At date of acquisition, fair value of NCI was RM 50,000Prepare the Consolidated Statement of Financial Position as at 31/12/2016.
he condensed balance sheet and income statement data for SymbiosisCorporation are presented below.SYMBIOSIS CORPORATIONBalance SheetsDecember 312014 2013 2012Cash $ 30,000 $ 24,000 $ 20,000Accounts receivable (net) 110,000 48,000 48,000Other current assets 80,000 78,000 62,000Investments 90,000 70,000 50,000Plant and equipment (net) 503,000 400,000 360,000$813,000 $620,000 $540,000 Current liabilities $ 98,000 $ 75,000 $ 70,000Long-term debt 130,000 75,000 65,000Common stock, $10 par 400,000 340,000 300,000Retained earnings 185,000 130,000 105,000$813,000 $620,000 $540,000SYMBIOSIS CORPORATIONIncome StatementsFor the Years Ended December 312014 2013Sales revenue $800,000 $750,000Less: Sales returns and allowances 40,000 50,000Net sales 760,000 700,000Cost of goods sold 420,000 406,000Gross profit 340,000 294,000Operating expenses (including income taxes) 230,000 209,000Net income $110,000 $ 85,000Additional information:1. The market price of Symbiosis common stock was $5.00, $3.50, and…
Vodafone Group, Plc.Consolidated Statements of Financial PositionAt March 312015 2014£m £mLong-term assets:Goodwill 22,537 23,315Other intangible assets 20,953 23,373Property, plant, and equipment 26,603 22,851 2015 2014£m £mInvestments in associates and joint ventures (3) 114Other investments 3,757 3,553Deferred tax assets 23,845 20,607Post employment benefits 169 35Trade and other receivables 4,865 3,270102,726 97,118Current assets:Inventory 482 441Taxation recoverable 575 808Trade and other receivables 8,053 8,886Other investments 3,855 4,419Cash and cash equivalents 6,882 10,134Assets held for sale — 3419,847 24,722Total assets 122,573 121,840Equity (details provided in complete statements) 67,733 71,781Long-term liabilities:Long-term borrowings 22,435 21,454Taxation liabilities — 50Deferred tax liabilities 595 747Post employment benefits 567 584Provisions 1,082 846Trade and other payables 1,264 1,33925,943 25,020Current liabilities:Short-term borrowings 12,623 7,747Taxation…
Prepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement ofFinancial Position and additional information provided below:INFORMATIONThe financial position of Gatti Limited as at 31 December 2022 is reflected the following statement:Statement of Financial Position as at 31 December 2022 R ASSETSNon-current assets 1 400 000Property, plant and equipment 1 200 000Fixed deposits 200 000Current assets 5 800 000Inventories 3 400 000Accounts receivable 2 000 000Cash and cash equivalents 400 000Total assets 7 200 000 EQUITY AND LIABILITIESEquity 4 680 000Ordinary share capital 3 600 000Retained earnings 1 080 000Non-current liabilities 720 000Long-term loan 720 000Current liabilities 1 800 000Accounts payable 1 800 000Total equity and liabilities 7 200 000 Additional informationThe following must be taken into account for 2023:■ Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent(50%) of the sales is…
Thetrial balances of Parker and Sargent companies of Exercise 3 for December 31, 2016, are presented as follows: Parker SargentCurrent Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000 115,000Depreciable Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 200,000Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (130,000) (40,000)Investment in Sargent Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,000Current Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (80,000)Common Stock ($10 par) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (300,000)(100,000) Retained Earnings, January 1, 2016. . . . . . . . . . . . . . . . .…
perating data for Navarro Corporation are presented below. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings Instructions December 31, 2017 $125,000 396,000 91,000 133,000 161,000 136,000 December 31, 2016 $100,000 330,000 70,000 95,000 115,000 150,000 Prepare horizontal and vertical analyses. (LO 1) Prepare a schedule showing a vertical analysis for 2017 and 2016. E18-3 The comparative condensed balance sheets of Gurley Corporation
The following are the Statements of Financial Position of Yomi Limited for the years ended December 31, 2015 and 2016. Non-current assets 2016 GH¢ 2015 GH¢ Land 560,000 300,000 Building & equipment 2,000,000 1,900,000 2,560,000 2,200,000 Accumulated depreciation (800,000) (770,000) 1,760,000 1,430,000 Long term investments 50,000 25,000 Total Non-current assets 1,810,000 1,455,000 Current assets Inventory 300,000 320,000 Trade receivables 410,000 460,000 Cash & cash equivalents 30,000 50,000 Prepaid 20,000 15,000 Total current assets 760,000 845,000 Total assets 2,570,000 2,300,000 Equity & Non-current liabilities Equity share capital (GH¢2 par value) 200,000 160,000 Share premium 710,000 550,000 Retained earnings 670,000 620,000 Bonds 500,000 800,000 Long term loan notes 150,000 - Total…
The following condensed information was reported by Peabody Toys, Inc., for 2018 and 2017:($ in thousands)2018 2017Income statement informationNet sales $5,200 $4,200Net income 180 124Balance sheet informationCurrent assets $ 800 $ 750Property, plant, and equipment (net) 1,100 950Total assets $1,900 $1,700Current liabilities $ 600 $ 450Long-term liabilities 750 750Paid-in capital 400 400Retained earnings 150 100Liabilities and shareholders’ equity $1,900 $1,700Required:1. Determine the following ratios for 2018:a. Profit margin on salesb. Return on assetsc. Return on shareholders’ equity2. Determine the amount of dividends paid to shareholders during 2018.This exercise is based on the Peabody Toys, Inc., data from E 4–27.
Wakanda Mulla has presented the following financial data for 2017 : Balance Sheet 2016 2017 Non-Current Assets Cost Depn NBV Cost Depn NBV Goodwill 260,000 210,000 Tangible Assets 1,800,000 (360,000) 1,440,000 2,300,000 (450,000) 1,850,000 Long term Investment 130,000 130,000 1,830,000 2,190,000 Current Assets Closing Stock 35,000 55,000 Debtors 65,000 20,000 Short term Investment 40,000 65,000 Bank 0 40,000 Cash 2,000 142,000 17,000 197,000 Total Assets 1,972,000 2,387,000 Capital & Reserves Share Capital 700,000…
The 2018 balance sheet for Hallbrook Industries, Inc., is shown below.HALLBROOK INDUSTRIES, INC.Balance SheetDecember 31, 2018($ in thousands)AssetsCash $ 200Short-term investments 150Accounts receivable 200Inventories 350Property, plant, and equipment (net) 1,000Total assets $1,900Liabilities and Shareholders’ EquityCurrent liabilities $ 400Long-term liabilities 350Paid-in capital 750Retained earnings 400Total liabilities and shareholders’ equity $1,900The company’s 2018 income statement reported the following amounts ($ in thousands):Net sales $4,600Interest expense 40Income tax expense 100Net income 160Required:Determine the following ratios for 2018:1. Current ratio2. Acid-test ratio3. Debt to equity ratio4. Times interest earned ratio
Presented below is the balance sheet of Pina Corporation for the current year, 2020. PINA CORPORATIONBALANCE SHEETDECEMBER 31, 2020 Current assets $ 486,360 Current liabilities $ 381,360 Investments 641,360 Long-term liabilities 1,001,360 Property, plant, and equipment 1,721,360 Stockholders’ equity 1,771,360 Intangible assets 305,000 $3,154,080 $3,154,080 The following information is presented. 1. The current assets section includes cash $151,360, accounts receivable $171,360 less $11,360 for allowance for doubtful accounts, inventories $181,360, and unearned rent revenue $6,360. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 2. The investments section includes the cash surrender value of a life insurance contract $41,360; investments in common stock, short-term $81,360 and long-term $271,360; and bond sinking fund $247,280. The cost and fair value of investments in common stock are the same.…
Below are the financial statements for Aspirations Pty Ltd. Statement of Financial Position at 30 June 2017 Non-Current Assets 2017 2018 2019 Plant, Property and Equipment 425,000 405,000 399,000 Current Assets Short-term Investments 0 0 4,300 Inventory 89,300 90,000 70,500 Receivables 161,800 166,500 140,400 Total Assets 676,100 661,500 614,200 Equity and Liabilities Share Capital 100,000 100,000 100,000 Revaluation Reserve 29,000 65,800 82,350 Retained earnings 214,400 286,800 384,050 Total Equity 343,400 452,600 566,400 Non-current Liabilities Loan 260,000 170,000 10,000 Current Liabilities Trade Payables 67,700 36,000 35,000 Overdraft 5,000 2,900 2,800…