Find the net book value of assets

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Find the net book value of assets
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Ye
Notes
2020
Cash Flows from Operating Activities
Profit before tax
P5,127,831,149
Adjustments for:
Depreciation and amortization
12,13,15
1,106,149,015
Finance costs
17,32
261,151,374
Provision on slow moving inventories
10
83,254,371
Loss on impairment of input VAT
11
9,316,412
Retirement benefit expense
19
70,397,959
Provision on write-down
10
391,036,678
Loss (Gain) on disposal of property, plant and equipment - net
15
(2,503,626)
Allowance for expected loss
9
9,270,257
Provisions on inventory obsolescence
24
Loss on impairment of goodwill
Share based compensation expense
12
28
Impairment loss of trademark
34,700,000
Interest income
23
(35,206,519)
Gain from sale of scrap - net
Unrealized foreign exchange loss (gain) - net
23
(107,664,525)
41,100,997
Reversal of allowance for sales return
9
(3,446,268)
Reversal of accruals
19
(107,184,824)
Reversal of allowance of inventory
10
_(373,327,170)
Operating cash flows before working capital changes
6,504,875,280
Decrease (Increase) in:
Trade and other receivables
(605,209,506)
Due from related parties
Inventories
(19,199,975)
(2,524,528,199)
Biological assets
(32,346,274)
Prepayments and other current assets
335,800,702
Other non-current assets
(43,657,035)
Increase (Decrease) in:
2,955,682,590
Trade and other payables
Due to related parties
88,515,508
Finance lease obligation
Exchange differences on translating operating assets and liabilities
Cash generated from operations
6,659,933,091
Contribution to the retirement fund
19
(48,612,624)
Income tax paid
(1,468,959,658)
Interest received
35,136,001
Net cash from (used in) operating activities
5,177,496,810
Cash Flows from Investing Activities
Acquisitions of property, plant and equipment
Proceeds from sale of property, plant and equipment
15
(1,736,384,126)
2,503,626
Net cash used in investing activities
(1,733,880,500)
Cash Flows from Financing Activities
Proceeds from borrowings
17
5,551,000,000
Repayments of borrowings
17
(7,537,541,907)
(1,275,213,094)
Dividends paid
Finance costs paid
29
(264,635,783)
Payment of lease liabilities
32
(295,688,307)
Net cash from (used in) financing activities
(3,822,079,090)
Net Increase (Decrease) in Cash and Cash Equivalents
(378,462,781)
Cash and Cash Equivalents, Beginning
1,607,844,054
Cash and Cash Equivalents, End
P1,229,381,273
Transcribed Image Text:CONSOLIDATED STATEMENTS OF CASH FLOWS For the Ye Notes 2020 Cash Flows from Operating Activities Profit before tax P5,127,831,149 Adjustments for: Depreciation and amortization 12,13,15 1,106,149,015 Finance costs 17,32 261,151,374 Provision on slow moving inventories 10 83,254,371 Loss on impairment of input VAT 11 9,316,412 Retirement benefit expense 19 70,397,959 Provision on write-down 10 391,036,678 Loss (Gain) on disposal of property, plant and equipment - net 15 (2,503,626) Allowance for expected loss 9 9,270,257 Provisions on inventory obsolescence 24 Loss on impairment of goodwill Share based compensation expense 12 28 Impairment loss of trademark 34,700,000 Interest income 23 (35,206,519) Gain from sale of scrap - net Unrealized foreign exchange loss (gain) - net 23 (107,664,525) 41,100,997 Reversal of allowance for sales return 9 (3,446,268) Reversal of accruals 19 (107,184,824) Reversal of allowance of inventory 10 _(373,327,170) Operating cash flows before working capital changes 6,504,875,280 Decrease (Increase) in: Trade and other receivables (605,209,506) Due from related parties Inventories (19,199,975) (2,524,528,199) Biological assets (32,346,274) Prepayments and other current assets 335,800,702 Other non-current assets (43,657,035) Increase (Decrease) in: 2,955,682,590 Trade and other payables Due to related parties 88,515,508 Finance lease obligation Exchange differences on translating operating assets and liabilities Cash generated from operations 6,659,933,091 Contribution to the retirement fund 19 (48,612,624) Income tax paid (1,468,959,658) Interest received 35,136,001 Net cash from (used in) operating activities 5,177,496,810 Cash Flows from Investing Activities Acquisitions of property, plant and equipment Proceeds from sale of property, plant and equipment 15 (1,736,384,126) 2,503,626 Net cash used in investing activities (1,733,880,500) Cash Flows from Financing Activities Proceeds from borrowings 17 5,551,000,000 Repayments of borrowings 17 (7,537,541,907) (1,275,213,094) Dividends paid Finance costs paid 29 (264,635,783) Payment of lease liabilities 32 (295,688,307) Net cash from (used in) financing activities (3,822,079,090) Net Increase (Decrease) in Cash and Cash Equivalents (378,462,781) Cash and Cash Equivalents, Beginning 1,607,844,054 Cash and Cash Equivalents, End P1,229,381,273
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Decem
Notes
2020
ASSETS
Current Assets
P 1,229,381,273
7,599,984,172
Cash and cash equivalents
Trade and other receivables - net
9
Due from related parties
27
280,788,885
Inventories - net
10
14,313,100,885
Biological assets
14
65,726,630
Prepayments and other current assets - net
11
484,492,819
Total Current Assets
23,973,474,664
Non-current Assets
Property, plant and equipment - net
15
7,290,756,893
Intangible assets - net
12
3,448,276,612
Right-of-use assets - net
13
678,300,084
Deferred tax assets
34
752,107,229
Other non-current assets
16
133,450,144
Total Non-current Assets
12,302,890,962
P36,276,365,626
LIABILITIES AND EQUITY
Current Liabilities
Trade and other payables
18
P 9,670,565,636
Borrowings - current portion
17
3,533,466,680
Income tax payable
194,877,487
Due to related parties
27
75,894,675
Lease liabilities- current portion
32
271,207,134
Total Current Liabilities
13,746,011,612
Non-Current Liabilities
Borrowings - net of current portion
Retirement benefit obligation
17
19
618,902,329
Lease liabilities - net of non current portion
32
465,842,247
Deferred tax liability
34
9,398,845
Total Non-current Liabilities
1,094,143,421
14,840,155,033
Equity
Share capital
Share premium
20
3,542,258,595
20
4,936,859,146
Share-based compensation reserve
28
8,211,398
Other reserves
30,628,942
Currency translation adjustment
23,818,317
Retained earnings
12,894,434,195
21,436,210,593
P36,276,365,626
Transcribed Image Text:CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Decem Notes 2020 ASSETS Current Assets P 1,229,381,273 7,599,984,172 Cash and cash equivalents Trade and other receivables - net 9 Due from related parties 27 280,788,885 Inventories - net 10 14,313,100,885 Biological assets 14 65,726,630 Prepayments and other current assets - net 11 484,492,819 Total Current Assets 23,973,474,664 Non-current Assets Property, plant and equipment - net 15 7,290,756,893 Intangible assets - net 12 3,448,276,612 Right-of-use assets - net 13 678,300,084 Deferred tax assets 34 752,107,229 Other non-current assets 16 133,450,144 Total Non-current Assets 12,302,890,962 P36,276,365,626 LIABILITIES AND EQUITY Current Liabilities Trade and other payables 18 P 9,670,565,636 Borrowings - current portion 17 3,533,466,680 Income tax payable 194,877,487 Due to related parties 27 75,894,675 Lease liabilities- current portion 32 271,207,134 Total Current Liabilities 13,746,011,612 Non-Current Liabilities Borrowings - net of current portion Retirement benefit obligation 17 19 618,902,329 Lease liabilities - net of non current portion 32 465,842,247 Deferred tax liability 34 9,398,845 Total Non-current Liabilities 1,094,143,421 14,840,155,033 Equity Share capital Share premium 20 3,542,258,595 20 4,936,859,146 Share-based compensation reserve 28 8,211,398 Other reserves 30,628,942 Currency translation adjustment 23,818,317 Retained earnings 12,894,434,195 21,436,210,593 P36,276,365,626
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