Additional information:

Great Bhd acquired $300,000$ of Ordinary shares, $40,000$ of Preference shares and RM$40,000$ of $10\%$ Debentures of Little Bhd on $1$ April $2023$ when the profit and loss and general reserve balance of the company was RM$100,000$ and RM$25,000$ respectively.

$2$

On the date of acquisition of shares in Little Bhd$,$ one of the buildings which has a carrying amount of RM$100,000$ was revalued to RM$160,000.$ The building has a remaining useful life of $10$ years on that date. However, Little Bhd has not recorded this transaction in its books.

During the year Little Bhd sold goods worth RM$50,000$ in credit at cost plus $50\%$ to Great Bhd$.$ RM$15,000$ of the amount is still outstanding. Great Bhd managed to sell $60\%$ of the goods before end of the year.

On $1$ July $2023,$ Great Bhd disposed one of its motorcycle to Little Bhd making a profit of RM$2,000.$ The remaining useful life of the motorcycle on the date of disposal is another two years. Depreciation is charged on yearly basis.

Included in the bills payable of Little Bhd was RM$10,000$ an amount due to Great Bhd$.$ Due to cash problem, Great Bhd had discounted RM$6,000$ of the bills with a discount house.

Little Bhd had made a payment of RM$2,000$ by cheque to reduce its loan from Great Bhd on $28$ March $2024.$ However, the amount has not been received by Great Bhd until $31$ March $2024.$

Great Bhd had not recognised its' portion of current year dividends and interest from Little Bhd$.$

On $31$ March $2024,$ Little Bhd issued bonus shares of $1$ for every $10$ shares held out of profit existing on $1$ April $2023.$ Little Bhd has not recorded the issue of bonus shares in its books.

Goodwill $($if any$)$ was impaired by $50\%$ on $31$ March $2024.$

Required:

a$.$ Find the goodwill or bargain purchase arising from the acquisition of Little Bhd by Great Bhd$.$

$(10$ marks$)$

b$.$ Show the journal entries to record goodwill on consolidation or bargain purchase $($where applicable$)$ for the acquisition of ordinary shares in Little Bhd by Great Bhd on the date of acquisition.

$(10$ marks$)$

c$.$ Prepare a schedule showing the analysis of the group retained profit, non$-$controlling interest, and other reserves as at $31$ March $2024.$

$(24$ marks$)$

d$.$ Prepare the Consolidated Statement of Financial Position of Great Bhd group as at $31$ March $2024.$ Show all workings.

$(36$ marks$)$

$($Sub $-$Total: $80$ marks$)$

$($Rubric: $10)$

$($Total: $90$ marks$)$

$3$