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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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The consolidated statement of profit or loss for Alliance Group for the year ended 31 December 2017 is shown below: RM'000 12,000 (8,400) 3,600 (400) (1,260) (450) Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance costs Share of profit of associate Profit before tax 500 1,990 (600) 1,390 Income tax Profit for the year Attributable to: Owners of the parent Non-controlling interest 1,200 190 1,390 Additional information: 1. There were no disposals of property, plant and equipment in the year. Depreciation charged in arriving at profits totaled RM1,800,000. 2. Alliance Group acquired 90% of the ordinary shares of Atiya Bhd on 1 September 2017 for a cash consideration of RM460,000 plus the issue of 1 million ordinary share of Alliance Group which had a deemed value of RM3.60 per share at the date of acquisition. The fair values of the net assets acquired were as follows: RM’000 Property, plant and equipment 800 Inventories 2,200 Receivables Cash and cash equivalents Payables 700 200 (500) 3.400 Alliance Group made no other purchases or sales of investments in the year. The group policy is to value the net assets. 3. Finance costs include interest on loans and any gains on held for trading investments. All interest due was paid in the year. Required: Prepare the Consolidated Statement of Cash Flows for Alliance Group for the year ended 31 December 2017.
Transcribed Image Text:The consolidated statement of profit or loss for Alliance Group for the year ended 31 December 2017 is shown below: RM'000 12,000 (8,400) 3,600 (400) (1,260) (450) Revenue Cost of sales Gross profit Distribution costs Administrative expenses Finance costs Share of profit of associate Profit before tax 500 1,990 (600) 1,390 Income tax Profit for the year Attributable to: Owners of the parent Non-controlling interest 1,200 190 1,390 Additional information: 1. There were no disposals of property, plant and equipment in the year. Depreciation charged in arriving at profits totaled RM1,800,000. 2. Alliance Group acquired 90% of the ordinary shares of Atiya Bhd on 1 September 2017 for a cash consideration of RM460,000 plus the issue of 1 million ordinary share of Alliance Group which had a deemed value of RM3.60 per share at the date of acquisition. The fair values of the net assets acquired were as follows: RM’000 Property, plant and equipment 800 Inventories 2,200 Receivables Cash and cash equivalents Payables 700 200 (500) 3.400 Alliance Group made no other purchases or sales of investments in the year. The group policy is to value the net assets. 3. Finance costs include interest on loans and any gains on held for trading investments. All interest due was paid in the year. Required: Prepare the Consolidated Statement of Cash Flows for Alliance Group for the year ended 31 December 2017.
The consolidated statement of financial position of Alliance Group as at 31 December 2017 and the comparative for 2016 are shown below: 2017 2016 RM'000 RM'000 Assets Non-current assets Property, plant and equipment 16,800 15,600 Goodwill 2,900 8,000 27,700 2,400 7,800 25,800 Investment in associate Current assets Inventories 11,600 9,400 12,000 8,200 1,800 Account Receivables Held for trading investment Cash and cash equivalent 2,200 1,400 24,600 52,300 4,100 26,100 51,900 Total assets Equity and Liabilities Equity attributable to owners of the parent Ordinary shares (issued at RM1.00) Capital surplus Retained earnings 14,800 10,000 400 400 _ 7,300 22,500 6,500 29,000 6,300 16,700 6,100 Non-controlling interest Total equity 22,800 Non-current liabilities Long term loans 14,000 18,000 Current liabilities Account Payables 8,700 10,200 Income tax 600 900 9,300 23,300 52,300 11,100 29,100 51,900 Total liabilities Total equity and liabilities
Transcribed Image Text:The consolidated statement of financial position of Alliance Group as at 31 December 2017 and the comparative for 2016 are shown below: 2017 2016 RM'000 RM'000 Assets Non-current assets Property, plant and equipment 16,800 15,600 Goodwill 2,900 8,000 27,700 2,400 7,800 25,800 Investment in associate Current assets Inventories 11,600 9,400 12,000 8,200 1,800 Account Receivables Held for trading investment Cash and cash equivalent 2,200 1,400 24,600 52,300 4,100 26,100 51,900 Total assets Equity and Liabilities Equity attributable to owners of the parent Ordinary shares (issued at RM1.00) Capital surplus Retained earnings 14,800 10,000 400 400 _ 7,300 22,500 6,500 29,000 6,300 16,700 6,100 Non-controlling interest Total equity 22,800 Non-current liabilities Long term loans 14,000 18,000 Current liabilities Account Payables 8,700 10,200 Income tax 600 900 9,300 23,300 52,300 11,100 29,100 51,900 Total liabilities Total equity and liabilities
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