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1. Given below are the statements of financial position of Megah Holdings and Syarikat Satupadu as at 31 December 2019. Ordinary shares of RM1 each

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1. Given below are the statements of financial position of Megah Holdings and Syarikat Satupadu as at 31 December 2019. Ordinary shares of RM1 each Retained profit Current liabilities Megah Holdings Syarikat Satupadu RM RM 1,000,000 500,000 400,000 110,000 100,000 20,000 1,500,000 630,000 Land Building at carrying amount Other non-current assets Investment in Satupadu - Ordinary shares at cost Current assets 100,000 300,000 200,000 100,000 400,000 100,000 750,000 150,000 1,500,000 30,000 630,000 Additional information: i. Megah Holding acquired 450,000 ordinary shares of Syarikat Satupadu on 1 January 2019 when the retained profit of Syarikat Satupadu had a credit balance of RM10,000. ii. On the date of acquisition, the fair value of land and building of Syarikat Satupadu were RM120,000 and RM500,000 respectively. Syarikat Satupadu did not adjust its financial statements to reflect the new values. The remaining life of the building on 1 January 2019 was 16 years and the carrying value was RM320,000. iii. Depreciation policy of the group is to depreciate buildings on straight-line basis. The carrying amount of RM300,000 is after charging year 2019's depreciation. iv. There was no purchase or sale of land or building in year 2019. Required: Prepare the Consolidated Statement of Financial Position of Megah Holding and Syarikat Satupadu as at 31 December 2019. (10 Marks)

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