Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If you don't mind, please make in Words format. Thank you. Below are the statements of the financial position of CK Bhd and Bidara Bhd
If you don't mind, please make in Words format. Thank you.
Below are the statements of the financial position of CK Bhd and Bidara Bhd for the year 2020. Statement of Financial Position as at 31 December CK Bhd RM Bidara Bhd RM Non-current assets 27,000,000 (4,320,000) 5,800,000 2,300,000 (460,000) 4,300,000 Property, plant, and equipment (cost) Less: depreciation Intangible assets Investments in subsidiary: - ordinary shares at RM 2 per share - preference shares at RM 2 per share 5,000,000 2,200,000 Current assets Inventories Trade receivables 4,000,000 3,200,000 460,000 43,340,000 3,500,000 4,300,000 1,100,000 15,040,000 Bank Shareholders' Equity Ordinary share at RM 1 Preference share at RM 1 Share premium Retained profits 10,000,000 7,000,000 4,400,000 16,500,000 37,900,000 5,440,000 43,340,000 4,000,000 1,100,000 3,800,000 4,140,000 Current liabilities 2,000,000 15,040,000 Additional information: 1. In 2020, CK Bhd sold part of its inventories to Bidara Bhd amounted to RM 600,000 (cost price is RM 480,000). As at 31 December 2020, these inventories still at the hand of Bidara Bhd. 2. In the same year, Bidara Bhd sold the RM 500,000 plant to CK Bhd at RM 750,000. The plant is being depreciated based on a straight-line basis of 8% per year. Required: PREPARE consolidated financial position for CK Bhd as at 31 December 2020. Below are the statements of the financial position of CK Bhd and Bidara Bhd for the year 2020. Statement of Financial Position as at 31 December CK Bhd RM Bidara Bhd RM Non-current assets 27,000,000 (4,320,000) 5,800,000 2,300,000 (460,000) 4,300,000 Property, plant, and equipment (cost) Less: depreciation Intangible assets Investments in subsidiary: - ordinary shares at RM 2 per share - preference shares at RM 2 per share 5,000,000 2,200,000 Current assets Inventories Trade receivables 4,000,000 3,200,000 460,000 43,340,000 3,500,000 4,300,000 1,100,000 15,040,000 Bank Shareholders' Equity Ordinary share at RM 1 Preference share at RM 1 Share premium Retained profits 10,000,000 7,000,000 4,400,000 16,500,000 37,900,000 5,440,000 43,340,000 4,000,000 1,100,000 3,800,000 4,140,000 Current liabilities 2,000,000 15,040,000 Additional information: 1. In 2020, CK Bhd sold part of its inventories to Bidara Bhd amounted to RM 600,000 (cost price is RM 480,000). As at 31 December 2020, these inventories still at the hand of Bidara Bhd. 2. In the same year, Bidara Bhd sold the RM 500,000 plant to CK Bhd at RM 750,000. The plant is being depreciated based on a straight-line basis of 8% per year. Required: PREPARE consolidated financial position for CK Bhd as at 31 December 2020Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started