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    Mock Final F3.2

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    Phạm Việt Bách
    Operating expenses include a $10,000 loss on disposal of plant originally costing $160,000 with accumulated depreciation of $30,000. The statement of cash flows for Proofing for the year ended December 31, 20X1 prepared using the indirect method shows net cash from operating activities of $212,000, net cash used in investing activities of $106,000, and net cash used in financing activities of $58,000, resulting in a net increase in cash of $48,000.

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    Mock Final F3.2

    Uploaded by

    Phạm Việt Bách
    24 views3 pages
    Operating expenses include a $10,000 loss on disposal of plant originally costing $160,000 with accumulated depreciation of $30,000. The statement of cash flows for Proofing for the year ended December 31, 20X1 prepared using the indirect method shows net cash from operating activities of $212,000, net cash used in investing activities of $106,000, and net cash used in financing activities of $58,000, resulting in a net increase in cash of $48,000.

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    Bài tập F3

    Original Title

    mock-final-F3.2

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    Operating expenses include a $10,000 loss on disposal of plant originally costing $160,000 with accumulated depreciation of $30,000. The statement of cash flows for Proofing for the year ended December 31, 20X1 prepared using the indirect method shows net cash from operating activities of $212,000, net cash used in investing activities of $106,000, and net cash used in financing activities of $58,000, resulting in a net increase in cash of $48,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views3 pages

    Mock Final F3.2

    Uploaded by

    Phạm Việt Bách
    Operating expenses include a $10,000 loss on disposal of plant originally costing $160,000 with accumulated depreciation of $30,000. The statement of cash flows for Proofing for the year ended December 31, 20X1 prepared using the indirect method shows net cash from operating activities of $212,000, net cash used in investing activities of $106,000, and net cash used in financing activities of $58,000, resulting in a net increase in cash of $48,000.

    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 3

    1.

    3: Exercise

    Additional information:
     (1)    Operating expenses include a loss on disposal of non-current assets of $10,000. The
    disposed plant originally cost $160,000 and had accumulated depreciation to the date of
    disposal of $30,000.

    Required:

    (1) Prepare Proofing's statement of cash flows for the year ended 31 Dec 20X1 using indirect
    method. The company classifies the interest receipt and dividend receipt as cash flows from
    investing activities.

    2. The following statements of profit or loss relate to Totto and its subsidiary Kross for the
    year ended 31 Dec 20X1:
    SOFP as at 31 Dec 20X1 SOPL for the year ended 31 Dec 20X1
    Totto Kross Totto Kross
      $'000 $'000 $'000 $'000
    NCA 1427 Revenue 400
    Acc depn -380 COS 220
    Investment in Kross 225   GP 180
    Inventory 196 Distribution costs 40
    T/R 204 Admin expense 80
    Cash 99 Operating profit 60
    Total 1771 Investment income from Kross 15
    Share capital 400 PBT 75
    Share premium 212 Tax 21
    Retained earnings PAT 54
    - opening RE 500
    - this period RE 54
    Loan 424
    T/P 154
    Interest accrual 6
    Tax payable 21
    Total 1771

    The following notes are relevant to the preparation of the consolidated financial statements:
    (i) Totto acquired 3 million of the equity shares of Kross on 30 June 20X1 when Kross had a
    total of 4 million equity shares in issue. Totto paid a total of $225,000 to acquire the shares.
    At acquisition date, fair value of non-current assets of Kross is $10,000 higher than its
    carrying value.
    (ii) It is group accounting policy to account for NCI at its fair value. At the date of
    acquisition, the fair value of the NCI in Kross was $75,000
    (iii) During the post-acquisition period, Kross sold goods to Totti. The goods originally cost
    $20 million and they were sold to Kross at a mark-up of 25%. At 31 Dec 20X1, Totti still had
    40% of these goods within its inventory.
    (iv) At 31 Dec 20X1, Totti has a trade payable of $5,000 to Kross.
    Requirement:
    (1) Prepare the group's consolidated statement of financial position as at 31 Dec 20X1
    Answer:
    1.

    CF from operating activities Working 1) NCA-cost


    PBT 326 o/b 1500
    Adjustments for c/b 2096
    - Depn expense 170 disposal 160
    gain on
    - loss on disposal 10 revaluation 400
    - finance charge 44 Purchase 356
    - interest income -30
    -dividend income -114 Working 2) Acc depn
    Decrease in inventory 14 o/b 240
    Increase in T/R -32 c/b 380
    Decrease in T/P -4 disposal 30
    Cash generated from operations 384 depn 170
    interest paid -48
    tax paid -124 CV of disposed asset 130
    Net cash from operating activities 212 proceeds from disposal 120

    CF from investing activities Working 3: Interest payable


    Cash paid for purchase of
    NCA -356 o/b 10
    Cash received from disposal
    of Nca 120 c/b 6
    Interest received 30 finance charge 44
    Dividend received 100 interest paid 48
    Net cash used in investing activities -106

    CF from financing activities


    cash paid for loan repayment -200
    Cash received from share
    issue 212
    Dividend paid -70
    Net cash used in financing activities -58
    Net increase in cash 48
    Cash at beginning 36
    Cash at end of year 84

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