Question
Given below are the statements of financial position of Hamlet, Romeo and Juliet as at 31 December x10. Equity and Liabilities Hamlet Ordinary share capital
Given below are the statements of financial position of Hamlet, Romeo and Juliet as at 31 December x10. Equity and Liabilities Hamlet Ordinary share capital RM'000 Romeo RM'000 Juliet RM'000 Retained profit 10,000 3,000 2,000 10% debentures 2,000 800 700 Trade and other payables 300 400 500 300 12,400 4,300 3,300 Assets Non-current assets 8,000 2,000 3,000 Investment in subsidiaries Ordinary shares in Romeo at cost 2,800 Ordinary shares in Juliet at cost 500 2,000 10% debentures in Juliet 100 Current assets 1,100 200 300 12,400 4,300 3,300 Additional information: C. a. Hamlet acquired 2.4 million of the 3 million ordinary shares of Romeo on 1 January x5 when the retained profit of Romeo was RM300,000 and the retained profit of Juliet was RM20,000. b. Romeo bought 800,000 of the 2 million issued ordinary shares in Juliet on 1 January x6 when the retained profit Juliet was RM500,000. On the same date, Hamlet bought 400,000 ordinary shares of Juliet. On 1 January x6, a piece of land of Juliet had a fair value that was RM1 million more than its carrying value. Juliet uses the cost model to value its non-current assets. Romeo bought RM100,000 of the 10 percent debentures of Juliet on 1 July x9. d. Juliet has not accrued the second half-year debenture interest. Required: Prepare the consolidated statement of financial position as at 31 December x10
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