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hey could u please help us to solve these consolidated question ? This paper consists of 2 sections. Section A, answer all the TWO (2)

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hey could u please help us to solve these consolidated question ?

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This paper consists of 2 sections. Section A, answer all the TWO (2) questions. Section B, answer any TWO (2) questions out of three. Section A: Answer all the questions. (50 marks) Question 1 Part A Given below are the statements of financial position of Homer and Simpson as at 31 December x6. Equity & Liabilities Homer Simpson RM'000 RM'000 Ordinary share capital 2,000 1,000 Retained profit b/f 500 300 Profit for the year 200 200 2,700 1,500 Payables 200 100 2,900 1,600 Assets Land 500 500 Building 700 600 Research & development Nil 100 Investments in 300,000 ordinary shares in Simpson 1,000 Inventory 400 200 Receivables 200 150 Cash 100 50 2,900 1,600 Additional information: a. The share capital of Homer consists of 1,000,000 ordinary shares and that of Simpson consists of 500,000 ordinary shares. b. Homer acquired the share capital of Simpson on 1 January x6. The fair value of the land and building of Simpson on that date were RM700,000 and RM770,000, respectively. The carrying amount of the building of Simpson on 1 January x6 was RM660,000 and the remaining life of the building on 1 January x6 was 11 years. Simpson did not adjust itsAdditional information: a. The share capital of Homer consists of 1,000,000 ordinary shares and that of Simpson consists of 500,000 ordinary shares. b. Homer acquired the share capital of Simpson on 1 January x6. The fair value of the land and building of Simpson on that date were RM700,000 and RM770,000, respectively. The carrying amount of the building of Simpson on 1 January x6 was RM660,000 and the remaining life of the building on 1 January x6 was 11 years. Simpson did not adjust its ACC 3210 (F) / Page 3 of 9 financial statements to reflect the fair values. The carrying amount of the building on 31 December x6 (shown above) is after providing for the year x6 depreciation charge of RM60,000. There were no additions and disposals of land and building in year x6. c. Simpson had developed a "house" brand name TEX which was not recognized in its financial statements. The fair value of the brand name on 1 January x6 was RM20,000. The remaining life of the brand was five years. d. Research and development of Simpson relates to a project that was completed in year x5. The amount capitalized was RM100,000. Simpson has not started amortizing it as yet and Homer did not recognize it as an asset on 1 January x6. c. Included in the receivables of Homer is RM40,000 from Simpson. f. Partial goodwill is recognized that is, only the parent's share. & Goodwill is impaired by 50 percent. Required: From the information given, you are required to prepare the consolidated statement of financial position as at 31 December x6. (Total 25 marks)

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