Please refer to English wordings accordingly.
Extra Information:
Baba Bhd acquired an 80% shareholding interest in Soni Bhd for cash consideration of RM 1,500,000 on 1 July 2010. On 1 July 2012, Baba Bhd and Soni Bhd acquired 20% and 60% of Coco Bhd for cash consideration RM300,000 and RM800,000 respectively. The financial year- end for Baba Bhd, Soni Bhd and Coco Bhd is on 30 June every year. The fair value of net assets of Soni Bhd and Coco Bhd on the date of acquisition as follows: Soni Bhd (1/7/2010) RM 1,000,000 Coco Bhd (1/7/2012) RM 800,000 Saham biasa Ordinary shares Perolehan tertahan Retained earnings 300,000 200,000 The fair value of Soni Bhd's share on 1 July 2010 was RM1.50 and the fair value of Coco Bhd's share on 1 July 2012 was RM1.80. Given below are the balances on 30 June 2017 for the three companies. Hasil / Revenue Inventori / Inventory 1/7/2016 Belian / Purchases Inventori / Inventory 30/6/2017 Baba Bhd RM'000 700 (70) (300) 110 Soni Bhd RM'000 600 (50) (200) 80 Coco Bhd RM'000 500 (20) (150) 60 390 440 (140) 180 480 430 (100) 60 390 (90) 300 Untung kasar / Gross profit Belanja / Expenses Pendapatan dividen / Dividend income Untung bersih sebelum cukai / Net profit before tax Cukai / Taxation Untung bersih selepas cukai Net profit after tax Perolehan tertahan / Retained earnings 1/7/2016 Bayaran dividen / Dividends paid Dividen diisytihar / Dividends declared Perolehan tertahan / Retained earnings 30/6/2017 (150) 330 (100) 290 (80) 220 400 400 300 (100) (200) 430 (100) (100) 490 (100) 420 2,000 400 1,000 200 800 100 Saham biasa / Ordinary shares Rizab penilaian aset Asset revaluation reserve Perolehan tertahan / Retained earnings Dividen boleh bayar / Dividends payable Lain-lain liabiliti semasa Other current liabilities 430 200 490 100 420 100 570 410 280 3,600 2,200 1,700 100 60 110 490 80 260 60 340 Dividen boleh terima / Dividends receivable Inventori / Inventory Lain-lain aset semasa / Other current assets Aset jangka panjang Long-term assets Pelaburan di dalam Soni Bhd Investment in Soni Bhd Pelaburan di dalam Coco Bhd Investment in Coco Bhd 1,100 1,000 1,300 1,500 300 800 3,600 2,200 1,700 During the year, Soni Bhd sold merchandise to Baba Bhd for RM200,000. Included in the ending inventory of Baba Bhd was a merchandise purchased from Soni Bhd amounting to RM 60,000. Soni Bhd sells merchandise to Baba Bhd at cost plus 50%. During the year, Coco Bhd sold merchandise to Soni Bhd for RM100,000. Included in the ending inventory of Soni Bhd was a merchandise amounting to RM30,000 purchased from Coco Bhd. Coco Bhd also invoiced Soni Bhd at cost plus 50%. It is the policy of the group to measure non-controlling interest based on the fair value of identifiable net assets of subsidiary method. (e) Andaikan kadar cukai ialah 30%. Assume the tax rate is 30%. Prepare a consolidated financial statements for Baba Bhd and its subsidiaries for the year ended 30 June 2017. Use one stage method to consolidate the group accounts. Show all workings. (30 markah/marks) Baba Bhd acquired an 80% shareholding interest in Soni Bhd for cash consideration of RM 1,500,000 on 1 July 2010. On 1 July 2012, Baba Bhd and Soni Bhd acquired 20% and 60% of Coco Bhd for cash consideration RM300,000 and RM800,000 respectively. The financial year- end for Baba Bhd, Soni Bhd and Coco Bhd is on 30 June every year. The fair value of net assets of Soni Bhd and Coco Bhd on the date of acquisition as follows: Soni Bhd (1/7/2010) RM 1,000,000 Coco Bhd (1/7/2012) RM 800,000 Saham biasa Ordinary shares Perolehan tertahan Retained earnings 300,000 200,000 The fair value of Soni Bhd's share on 1 July 2010 was RM1.50 and the fair value of Coco Bhd's share on 1 July 2012 was RM1.80. Given below are the balances on 30 June 2017 for the three companies. Hasil / Revenue Inventori / Inventory 1/7/2016 Belian / Purchases Inventori / Inventory 30/6/2017 Baba Bhd RM'000 700 (70) (300) 110 Soni Bhd RM'000 600 (50) (200) 80 Coco Bhd RM'000 500 (20) (150) 60 390 440 (140) 180 480 430 (100) 60 390 (90) 300 Untung kasar / Gross profit Belanja / Expenses Pendapatan dividen / Dividend income Untung bersih sebelum cukai / Net profit before tax Cukai / Taxation Untung bersih selepas cukai Net profit after tax Perolehan tertahan / Retained earnings 1/7/2016 Bayaran dividen / Dividends paid Dividen diisytihar / Dividends declared Perolehan tertahan / Retained earnings 30/6/2017 (150) 330 (100) 290 (80) 220 400 400 300 (100) (200) 430 (100) (100) 490 (100) 420 2,000 400 1,000 200 800 100 Saham biasa / Ordinary shares Rizab penilaian aset Asset revaluation reserve Perolehan tertahan / Retained earnings Dividen boleh bayar / Dividends payable Lain-lain liabiliti semasa Other current liabilities 430 200 490 100 420 100 570 410 280 3,600 2,200 1,700 100 60 110 490 80 260 60 340 Dividen boleh terima / Dividends receivable Inventori / Inventory Lain-lain aset semasa / Other current assets Aset jangka panjang Long-term assets Pelaburan di dalam Soni Bhd Investment in Soni Bhd Pelaburan di dalam Coco Bhd Investment in Coco Bhd 1,100 1,000 1,300 1,500 300 800 3,600 2,200 1,700 During the year, Soni Bhd sold merchandise to Baba Bhd for RM200,000. Included in the ending inventory of Baba Bhd was a merchandise purchased from Soni Bhd amounting to RM 60,000. Soni Bhd sells merchandise to Baba Bhd at cost plus 50%. During the year, Coco Bhd sold merchandise to Soni Bhd for RM100,000. Included in the ending inventory of Soni Bhd was a merchandise amounting to RM30,000 purchased from Coco Bhd. Coco Bhd also invoiced Soni Bhd at cost plus 50%. It is the policy of the group to measure non-controlling interest based on the fair value of identifiable net assets of subsidiary method. (e) Andaikan kadar cukai ialah 30%. Assume the tax rate is 30%. Prepare a consolidated financial statements for Baba Bhd and its subsidiaries for the year ended 30 June 2017. Use one stage method to consolidate the group accounts. Show all workings. (30 markah/marks)
