24. X Bhd buys finished goods from its 80%-owned subsidiary, Y Bhd. In 2019, Y sold finished goods that cost $80,000 to X for $100,000. Half of this merchandise remained in X's December 31, 2019 inventory. This inventory was sold in 2020. During 2020, Y sold finished goods that cost $160,000 to X for $200,000. $62,500 of this remained in X's December 31, 2020 inventory. Selected income statement information for the two companies for the year 2020 are as follows: X Bhd Y Bhd Sales Revenue $500,000 $400,000 Cost of Goods Sold 400,000 320,000 Consolidated cost of goods sold for X Bhd and Subsidiary for 2020 are:

(4 Points)

A) $512,000.

B) $526,000.

C) $522,500.

D) $528,000.

E) None of the above

25.On 30 June 2019, H acquired 75% of the ordinary share capital of S for RM500,000. At that date the balance sheet of S showed the following: RM Ordinary share capital 200,000 Revaluation Reserve 150,000 Retained earnings 100,000 What was the goodwill arising on the acquisition?

(4 Points)

A RM50,000

B RM162,500

C RM350,000

D RM300,000

E) None of the above