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11.5 on as Glen below are the statements of financial position of Aero and Space as at 31 December x7. Aero RM'000 1,000 Space RM
11.5 on as Glen below are the statements of financial position of Aero and Space as at 31 December x7. Aero RM'000 1,000 Space RM 000 Equity and Liabilities 1,000,000 ordinary shares 800,000 ordinary shares 800 e 0 0 7 percent redeemable preference shares 200 300 200 Retained profits 150 100 0 0 0 8 percent debentures 10 percent debentures Debenture interest payable Trade payables 8 42 1,650 100 10 40 1,300 0 0 5 4 8 Assets Investments in Space at cost 600,000 ordinary shares 10 percent redeemable preference shares (25 percent of the issued shares) RM20,000 debentures 700 50 20 790 1,200 Non-current assets Current assets Interest receivable from Space Trade and other receivables Bank 88 2 60 28 1,650 30 70 1,300 7 Additional information: was RM60,000 Aero bought the ordinary and preference shares of Space on 1 January x7 when the retained profit of Space Both Aero and Space have not provided for preference dividends for year x7. Dividends are paid on paid-up Other receivables of Space include RM5,000 due from Aero but Space has remitted RM2,000 of it which capital. was not as yet received by Aero. 0. Goodwill on consolidation is impaired by 20 percent. From the information given, you are required to prepare the consolidated statement of financial position as at 31 December x7. was was mber ation
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