On 31 December 2018, WWW Bhd acquired 80% interest in RRR Bhd at purchase consideration of RM45,000,000. The building worth RM1,000,000 as at 31 December 2018 was not reflected in the RRR Bhd accounts. At the date of acquisition, net asset of RRR Bhd represented by equity is as follows:

	RM’000
Share Capital	30,000
Retained Earning	12,000
Revaluation reserve	10,000

Financial statement for both companies on 31 December 2020 are as follows:   RM ‘000        RM’000      

            Share Capital of RM1.00 each                               100,000         30,000

            Retained Earnings                                                  41,000           28,000

            Revaluation Reserves                                             25,000            12,000

                                                                                       166,000           70,000

                                                                                            RM ‘000       RM’000

            Investment in RRR 45,000           -

             Property, Plant & Equipment 80,000           40,000

            Accounts Receivable 40,000          30,000

            Cash                                                                         13,000           25,000

            Accounts Payable                                                     (12,000)        (25,000)

                                                                                            166,000          70,000

The profit for the for year ended 31 December 2020 for WWW Bhd is RM20,000,000. The profit for the for year ended 31 December 2020 for RRR Bhd is RM5,000,000. The RRR Bhd retained earnings as at 31 December 2019 was RM23,000,000. The non-controlling interest in the WWW Bhd is measured at proportionate share of identifiable net assets method.

REQUIRED

(a)       Prepare consolidation journal entries of WWW Bhd and RRR Bhd.

(b)        Prepare the consolidated financial statements of WWW Bhd and RRR Bhd as at 31 December 2020. [extract version for Consolidated Statement of Profit or Loss and Other Comprehensive Income, full statement for Consolidated Statement of Financial Position].