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Please prepare the consolidated statement of financial position for the group Papa Bhd was established in 1998 in Penang where the principal activities include the

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Please prepare the consolidated statement of financial position for the group

Papa Bhd was established in 1998 in Penang where the principal activities include the distribution, marketing and retailing of healthcare products. Soni Bhd and Juli Bhd are both located in Johor and involve in marketing and retailing of consumer products. Given below are the Statements of Financial Position of Papa Bhd, Soni Bhd and Juli Bnd as at 31 December 2012 Papa Bhd Soni Bhd Juli Bhd RM000 RM'000 RM'000 3,000 1,600 1,000 Saham biasa pada RM1 setiap satu Ordinary shares of RM1 each Saham biasa pada RM2 setiap satu Ordinary sharos of RM2 each Saham Keutamaan pada RM1setiap satu Preference shares of RM1 each Premium Saham/ Share premium Untung Tertahan/ Retained Profit 500 400 400 400 500 500 300 250 80 Liabiliti Semasal Current Liabilities Soni Bhd Juli Bhd Akaun Dagangan Belum Bayar Trade payables 100 60 190 80 120 4,770 2,440 2,270 1,000 1,000 1,200 400 1,000 700 2,000 Aset bukan semasal Non-current Assets Tanah pada harga kos / Land at cost Lain-lain aset bukan semasa Other non-current assets Pelaburan di dalam anak syarikat Investment in subsidiaries: Soni Bhd - 600,000 saham biasa pada harga kos/ ordinary shares al cost Juli Bhd - 400,000 saham biasa pada harga kos Jux Bnd - 400,000 ordinary shares at cost Aset Semasal Current Assets Inventori/ Inventory Akaun Dagangan Belum Terima Trade receivables Akaun Semasal Current accounts: Papa Bhd Soni Bhd Bank 800 160 30 40 280 150 80 90 100 70 130 170 80 2,270 4,770 2,440 Additional Information: On 1 January 2007, Papa Bhd bought the ordinary shares of Soni Bhd when the retained profit of Soni Bhd was RM200,000. On that date, the fair value of a piece of land of Soni Bhd, was RM400,000, and is carrying value was RM200,000. No adjustment was made to reflect the fair value. On 1 January 2012. Papa Bhd bought the ordinary shares of Juli Bhd. The cost of the business combination was an immediate cash payment of RM800,000, further cash payment of RM480,000 in two years' time and an issue of 150,000 ordinary shares in Papa Bhd. The fair value of Papa Bhd's ordinary shares on 1 January 2012 was RM4 each. Papa Bhd has to date only recorded the immediate cash payment The cost of capital of Papa Bhd is 10% and the present value of deferred payment is RM400,000 On 1 January 2012, the retained profit of Juli Bhd was RM50,000 and the fair value of the land of Juli Bhd was RM1,500,000 but no adjustment was made to reflect the fair value. The fair value on 31 December 2012 was RM1,750,000. Juli Bnd has not bought or sold any land. On 1 January 2012. Papa Bhd purchased a 20 storey building for RM27,000,000 The estimated useful life of the building is 50 years. Papa End Used Level nineteen and twenty as a head quarter, whereas leve! two, three and four were rented to Soni end at RM100,000 per annun. The remaining levels were rented to outsiders, where Papa Bhd earned a rental income of RM1.5 million per annum. The fair value of building as at 31 December 2012 is RM30,000,000. Differences in the current accounts are due to cash in transit. Included in the trade payable of Papa Bhd is RM25,000 due to Soni Bhd and RM12,000 due to Jull Bhd. During the year 2012 Juli Bhd sold inventory to Papa Bhd of RM200,000 and Papa Bhd had sold 80% of this inventory to the third party. Juli Bhd also sold RM20,000 inventory to Soni end and Soni Bhd has not sold any of this inventory. Juli Bhd transfers inventory at cost plus 25% On 30 December 2012, Soni Bhd sold an equipment to Papa Bhd for RM900,000. The net book value on that date was RM600,000 (cost of RM1,000,000 and accumulated depreciation of RM400.000). The equipment was depreciated evenly over 10 years and the remaining useful life at the date of sale was 6 years. Both Soni Bhd and Papa Bhd have not recorded this transaction. It is the group policy to measure non-controlling interest on acquisition date at fair value of the net identifiable assets of the subsidiary. Papa Bhd used the fair value model to account is investment property, Assume income tax rate is 25% Required: Based on the above information, prepare the Consolidated Statement of Financial Position for the group as at 31 December 2012. Show all relevant workings Papa Bhd was established in 1998 in Penang where the principal activities include the distribution, marketing and retailing of healthcare products. Soni Bhd and Juli Bhd are both located in Johor and involve in marketing and retailing of consumer products. Given below are the Statements of Financial Position of Papa Bhd, Soni Bhd and Juli Bnd as at 31 December 2012 Papa Bhd Soni Bhd Juli Bhd RM000 RM'000 RM'000 3,000 1,600 1,000 Saham biasa pada RM1 setiap satu Ordinary shares of RM1 each Saham biasa pada RM2 setiap satu Ordinary sharos of RM2 each Saham Keutamaan pada RM1setiap satu Preference shares of RM1 each Premium Saham/ Share premium Untung Tertahan/ Retained Profit 500 400 400 400 500 500 300 250 80 Liabiliti Semasal Current Liabilities Soni Bhd Juli Bhd Akaun Dagangan Belum Bayar Trade payables 100 60 190 80 120 4,770 2,440 2,270 1,000 1,000 1,200 400 1,000 700 2,000 Aset bukan semasal Non-current Assets Tanah pada harga kos / Land at cost Lain-lain aset bukan semasa Other non-current assets Pelaburan di dalam anak syarikat Investment in subsidiaries: Soni Bhd - 600,000 saham biasa pada harga kos/ ordinary shares al cost Juli Bhd - 400,000 saham biasa pada harga kos Jux Bnd - 400,000 ordinary shares at cost Aset Semasal Current Assets Inventori/ Inventory Akaun Dagangan Belum Terima Trade receivables Akaun Semasal Current accounts: Papa Bhd Soni Bhd Bank 800 160 30 40 280 150 80 90 100 70 130 170 80 2,270 4,770 2,440 Additional Information: On 1 January 2007, Papa Bhd bought the ordinary shares of Soni Bhd when the retained profit of Soni Bhd was RM200,000. On that date, the fair value of a piece of land of Soni Bhd, was RM400,000, and is carrying value was RM200,000. No adjustment was made to reflect the fair value. On 1 January 2012. Papa Bhd bought the ordinary shares of Juli Bhd. The cost of the business combination was an immediate cash payment of RM800,000, further cash payment of RM480,000 in two years' time and an issue of 150,000 ordinary shares in Papa Bhd. The fair value of Papa Bhd's ordinary shares on 1 January 2012 was RM4 each. Papa Bhd has to date only recorded the immediate cash payment The cost of capital of Papa Bhd is 10% and the present value of deferred payment is RM400,000 On 1 January 2012, the retained profit of Juli Bhd was RM50,000 and the fair value of the land of Juli Bhd was RM1,500,000 but no adjustment was made to reflect the fair value. The fair value on 31 December 2012 was RM1,750,000. Juli Bnd has not bought or sold any land. On 1 January 2012. Papa Bhd purchased a 20 storey building for RM27,000,000 The estimated useful life of the building is 50 years. Papa End Used Level nineteen and twenty as a head quarter, whereas leve! two, three and four were rented to Soni end at RM100,000 per annun. The remaining levels were rented to outsiders, where Papa Bhd earned a rental income of RM1.5 million per annum. The fair value of building as at 31 December 2012 is RM30,000,000. Differences in the current accounts are due to cash in transit. Included in the trade payable of Papa Bhd is RM25,000 due to Soni Bhd and RM12,000 due to Jull Bhd. During the year 2012 Juli Bhd sold inventory to Papa Bhd of RM200,000 and Papa Bhd had sold 80% of this inventory to the third party. Juli Bhd also sold RM20,000 inventory to Soni end and Soni Bhd has not sold any of this inventory. Juli Bhd transfers inventory at cost plus 25% On 30 December 2012, Soni Bhd sold an equipment to Papa Bhd for RM900,000. The net book value on that date was RM600,000 (cost of RM1,000,000 and accumulated depreciation of RM400.000). The equipment was depreciated evenly over 10 years and the remaining useful life at the date of sale was 6 years. Both Soni Bhd and Papa Bhd have not recorded this transaction. It is the group policy to measure non-controlling interest on acquisition date at fair value of the net identifiable assets of the subsidiary. Papa Bhd used the fair value model to account is investment property, Assume income tax rate is 25% Required: Based on the above information, prepare the Consolidated Statement of Financial Position for the group as at 31 December 2012. Show all relevant workings

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