COMPLEX GROUP Question 4 The following are the statements of financial position for Venom Group as at 31 December 2021: Venom Bhd Strange Sdn Asura Sdn (RM'000) Bhd (RM1000) Bhd (RM'000) Investment in 9,750 250 150 Ordinary shares of Strange 3,750 100 4% Preference shares of Strange 10% Debentures of Strange Ordinary shares of Asura 6% Redeemable preference shares of Asura Non-current assets Current assets Total Ordinary shares 5% Preference shares 6% Redeemable preference shares Revaluation reserve Retained earnings b/f Profit for the year 8% Debentures Liabilities Total Additional Information: 13,300 11,800 6,140 1,500 850 750 28,800 12,650 6,890 25,000 10,000 5,000 500 500 250 350 100 50 1,400 400 600 250 750 290 300 1,150 900 550 28,800 12,650 6,890 1. All the investments in Strange and Asura have been fully recorded the percentage of boldings can be summarized as follows: Ordinary Preference Redeemable Debentures Subsidiary Strange Asura Date of acquisition shares shares P/S 1 January 2020 75% 60% 1 July 2021 80% 50% 40% 2. Venom sold to Strange inventories with the invoice value of RM100,000 at cost plus 25% Strange sold 50% of these inventories to third parties 3. On 1 January 2020, plant belonging to Strange was estimated to have a fair value of RM160,000 more than the carrying value. Estimated useful life for this plant on this date was 8 years. Retained earnings on this date was recorded as RM650,000. 4. On 1 July 2021, Asura's building was estimated to have a fair value of RM60,000 more than the carrying value. Estimated useful life are 10 years on this date. Depreciation adjustment must be pro-rated according to months. 5. Strange sold machinery to Venom on 1 January 2021 with the profit of RM20,000 Useful life is estimated to be 5 years. 6. The following are the dividends and interest declared in December 2001 but none has been recorded: Ordinary shares Preference shares Redeemable P/S Debentures Venom RM500,000 Full year Strange RM200,000 Full year Asura RM100,000 Half year Half year 7. The group uses partial goodwill and straight line depreciation method to prepare its accounts. Required: Prepare the consolidated statement of financial position as at 31 December 2021. Note: Show ALL the relevant workings.