Company A X

Company B Y
Day 28
Month FEBRUARY
Year 20.2
Question

X Ltd Group
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 20.2

ASSETS Calculations
Non-current assets
Property, plant and equipment
Goodwill
0

Current assets
Inventories
Trade and other receivables
Cash and cash equivalents
0
Total assets 0

EQUITY AND LIABILITIES

Equity attributable to owners of the parent
Share capital
Retained earnings
0
Non-controlling interests
Total equity 0

Non-current liabilities
Long-term borrowings
0
Current liabilities
Bank overdraft
Dividends payable
Tax payable
Trade and other payables
0
Total liabilities 0
Total equity and liabilities 0
X Ltd Group
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR
ENDED 28 FEBRUARY 20.2
Calculations
Revenue
Cost of sales
Gross profit 0
Expense 1
Expense 2
Expense 3
Expense 4
Expense 5
Other income
Profit before tax 0
Income tax expense
PROFIT FOR THE YEAR 0
Other comprehensive income for the year
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 0

Total comprehensive income for the year attributable to:

Owners of the parent
Non-controlling interest
0
X Ltd Group
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 20.2

X% cum
preference Revaluation
Share capital share capital suprlus
R R R
Balance as at x x 20.x
Changes in equity for 20.x
Total comprehensive income for the year
Profit for the year
Dividends paid: ordinary
Dividends paid: Preference
Balance as at x x 20.x 0 0

Calculations
 Non-
Retained controlling
earnings Total interests Total equity
R R R R
0 0
0 0
0 0
0 0
0 0
0 0
0 0 0 0
75 100 75.00%

Ordinary shares Calculations Total X Ltd 75% NCI

At Since 25%
R R R R
At acquisition
Share capital 800,000 600,000 200,000
Retained income 1,320,300 990,225 330,075
Revaluation surplus 1,040,000 780,000 260,000
3,160,300 2,370,225 790,075

Goodwill 1,029,775 1,029,775

Consideration and
NCI 4,190,075 3,400,000 790,075

Since acquisition
* to 31 May 2021
Retained earnings 4,946,700 3,710,025 1,236,675

Revaluation surplus 0 0
60 100 60.00%

Cumulative
preference shares Calculations Total X Ltd 60% NCI
At Since 40%
R R R R
At acquisition
Share capital 800,000 480,000 320,000
Goodwill 0 0
Consideration and
NCI 800,000 480,000 320,000

Since acquisition
* to 31 May 2021
Retained earnings 4,946,700 2,968,020 1,978,680
Preference dividend
paid 0 0
Arrear preference
dividend20.xx 0 0
0 0
0
Journal entries
Dr Cr NCI
R R R Calculations
XXX
XXX
 Dr Cr NCI
R R R Calculations
XXX
XXX
X Ltd Group
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 20.2

Cash flows from operating activities Calculations R

Profit before tax 13 500.00
Adjustments for:
Depreciation 42 600.00
Decrease in allowance for credit losses ( 200.00)
Profit on sale of non-current assets (1 000.00)
Loss on sale of financial assets at amortised cost 400.00
Interest expense 0.00
Investment revenue 0.00
55 300.00
Changes in working capital (2 500.00)
Decrease in inventory 4 000.00
Increase in trade and other receivables (2 600.00)
Decrease in prepaid expenses (3 900.00)
Decrease in trade and other payables
Cash generated from operations 52 800.00
Interest paid 0.00
Dividends received (40 000.00)
Dividends paid (5 300.00)
Tax paid
Net cash from operations 7 500.00
Cash flows from investing activities
Investment to main production capacity (8 000.00)
Replacement of machinery (8 000.00)

Proceeds from sale of non-current assets 2 500.00

Proceeds from sale of financial assets at amortised cost 2 000.00
Net cash used in investing activities (3 500.00)
Cash flows from financing activities
Redemption of long term borrowings (10 000.00)
Proceeds from debentures issued 0.00
Proceeds on issued shares 0.00
Net cash used in financing activities (10 000.00)
Net decrease in cash and cash equivalents (6 000.00)
Cash and cash equivalents at the beginning of the year 14 000.00
Cash and cash equivalents at the end of the year 8 000.00