Prepare the Consolidated Statement of Financial Position of Audi Bhd Group as at 31 March 2018. Disclose all workings.

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tre f cnnd he niopeton mo tun 20 en A to nompeehendy Au ad cdehantodngno an old ilon ol eeyshee el thetaret pote of oramada S don m te a On K. A nt scoed moter 4lon of ou n for i Tem ad prti ma mrean o rty Oe on e le vof te mesdon d we ted tar r fora nd ae e ndhanea ter han anygn dens ratai n e rshamea a Te iapa n M on t aon des. Ontes. the f of let of ager nd o ih ngat lyan ne ai ee i erev e vet er s la nethe nyng heattere of rencipoton for Aus n As dantper Page 2of0 Satenentof inand e RM 00 apety a Cehher 30 Cem 200 300 Teal ndlalte DLa z, e e la M aa e mnhe be ein to v ann aing o .co e enet ng ten nningtndabe doedirat beed on igr Ie mel g a nin e e panha al e y 2. Denghe aa a p 1 O eter men d e A h yi sha e Ta mmon da mothe andne p n.c n e a te ar w t bydid AA Pa Lof n Pge 2 of 10 Saement of Financia Postion Audi Acun hd Jagar hd anta Propets at Invetments in bdais eorie 200 Trade recivables 1,100 Canh at bank 300 300 20 Or s of M enh 2000 Ratained proft 1440 Denerderves 400 LON D G00 400 2/5 Te pvae 130 43 Trade payat 200 Ordinary divitend pabie 100 SL Total ecuty and kabit Other reant intormatian On 1 October 2013, the tair val of the land of Aad d was PMI00000 ore than ta book 1. val. Na adjutment ha been nude in it account ta incorperate thi new value 2. Jaguar id sold an ecianent withacamingvalue of MO000 kud hdar k 0. The orert wn hng ten yen remae efe and to be deree binet on stg ne rehot. pving year' deprecon the year of purchase and none te year at Dring te year, kcara nd uole goodi a prica of Mi nilianto had ndna praft rargie at 2IK One queter of these poos reman usold in Ahent30 Aume 208 ihd as et aeoeesae of dvidendk recevale ton vees Trade es of adde asod d his aot i aher edating ert of Vea000 semtted by Aeurhdan 38 ne 20LE he setce w onl recived by ad do yao Induded in the truce pyatlen of Aud ndv0000 due trom agaar hd. Group patc 7. fer ei ment etthe goedhel ncoroldon, end L. Nan-controling interet is to be vald at it praportiaruse share of the fair alue of the dete ret nset of the suteries on the dete of aoen euied Prepane the Conolidad Stusemet of Faancial Position of udi nd Groug an at 1 March a.00PLOSCH ( ak Discens he relatehp beveen Add ard lepr h d dhpesed 2 of tsharm in ag C Get Homework Help With Chegg x ignment- Sept2019 x + /54742/mod_resource/content/1/Individual%20Assignment-%20Sept2019.pdf 1/5 DOE DATE20 DECEMBEA 20D Oblective: CLO 2- To prepare consolidated financial statements for Malaysian company (CLO2: PLO2:C3) (35 MARKS) QUESTION 1 Audi Bhd is a manufacturer of luxury cars and has been in operation for more than 20 years. As to remain competitive in the industry, Audi Bhd had acquired the shareholding in Acura Bhd and Jaguar Bhd. The details of the business acquisition were as follows; Acquisition in Acura Bhd Audi Bhd acquired 800,000 out of 4 million of the ordinary shares of Acura Bhd on 1 July 2015 for RM880,000 when the retained profit of Acura Bhd had a debit balance of RM40,000. On 1 July 2106, Audi Bhd acquired another 2.4 million ordinary shares of Acura Bhd for RM2,880,000. The reported retained profit and general reserve of Acura Bhd were amounted to RM200,000 and RM100,000 respectively. On the acquisition date, the fair values of the assets in Acura Bhd were reflected its fair values except for a piece of land of Acura Bhd. The land was having a fair value of RM200,000 more than its carrying value. Acura Bhd did not adjust its record to account for the increase in values for the asset. Acquisition in Jaguar Bhd On 10 July 2017, Acura Bhd acquired 60% of the ordinary shares in Jaguar Bhd for RM1,500,000. Acura Bhd's ordinary shares were amounted to 2 million units. The retained profit of Jaguar Bhd was recorded at RM360,000 on the acquisition date. On this date, the fair value of a plant of Jaguar Bhd was RM10,000 more than its carrying amount with five years of remaining useful life. No adjustment has been made in the books of Jaguar to recognize the ew value. The fair values of all other assets of Jaguar Bhd remained the same as its carrying values. The following are the summarized statements of financial position for Audi Bhd, Acura Bhd and Jaguar Bhd as at 30 June 2018. AB Pr ASUS C Get Homework Help With Chegg + ual Assignment- Sept2019 x x ile.php/54742/mod_resource/content/1/Individual%20Assignment-%20Sept2019.pdf Statement of Financial Position as at 30 June 2018 Audi Bhd Acura Bhd Jaguar Bhd RM '000 RM '000 RM '000 Assets Property, plant & equipment 3,980 45,500 3,090 Investments in subsidiaries 3,760 1,500 Inventories 720 200 400 Trade receivables. 1,100 640 200 Cash at bank 300 300 20 51,380 6,620 Total assets 3,710 Equity and Liabilities Ordinary shares of RM1 each Retained profit 35,000 4,000 2,000 14,000 1,440 1,070 General reserves 800 400 200 10% Debentures 600 460 260 Tax payable 110 40 40 Trade payables Ordinary dividend payable 770 200 100 100 80 40 Total equity and liabilities 51,380 6,620 3,710 Other relevant information: On 1 October 2017, the fair value of the land ot Audi Bhd was RM100,000 more than its book value, No adjustment has been made in its account to incorporate this new value. 1. Jaguar Bhd sold an equioment with a carrying value of RM50.000 to Audi Bhd for RM/0.000 The 2. Pr -7620sept2019.pdf Total equity and liabilities 51,380 6,620 3,710 Other relevant information: On 1 October 2017, the fair value of the land of Audi Bhd was RM100,000 more than its book value. No adjustment has been made in its account to incorporate this new value. 1. Jaguar Bhd sold an equipment with a carrying value of RM50,000 to Audi Bhd for RM70,000. The equipment was having ten years remaining useful life and to be depreciated based on straight line method, giving full year's depreciation in the year of purchase and none in the year of disposal. 2. During the year, Acura Bhd sold goods at a price of RM1 million to Audi Bhd at a profit margin of 25%. One- quarter of these goods remain unsold in Audi Bhd as at 30 June 2018. 3. Audi Bhd has yet to recognize its share of dividends receivable from its investees. 4. Trade payables of Acura Bhd include RM50,000 due to Audi Bhd. This amount is after deducting a payment of RM50,000 remitted by Acura Bhd on 28 June 2018. The remittance was only received by Audi Bhd on 4 July 2018. 5. Included in the trade payables of Audi Bhd is RM200,000 due from Jaguar Bhd. 6. Page 3 of 10 ACCT3132/Sept/Oct2018 Kle.php/54/42/mod_resource/content/1/Indiviaual%20Assignment-%20Sept2019.pdf 7. Group policies : i. 10% for the impairment of the goodwill on consolidation, and ii. Non-controlling interest is to be valued at its proportionate share of the fair value of the identifiable net assets of the subsidiaries on the date of acquisition. Required: a. Prepare the Consolidated Statement of Financial Position of Audi Bhd Group as at 31 March 2018. Disclose all workings. (CLO2:PLO6:C3) (30 marks) b. Discuss the relationship between Audi Bhd and Jaguar Bhd if Audi Bhd disposed 20% of its shares in Jaguar Bhd. (CLO3:PLO2:C5) (5 marks) QUESTION 2 (25 MARKS) tre f cnnd he niopeton mo tun 20 en A to nompeehendy Au ad cdehantodngno an old ilon ol eeyshee el thetaret pote of oramada S don m te a On K. A nt scoed moter 4lon of ou n for i Tem ad prti ma mrean o rty Oe on e le vof te mesdon d we ted tar r fora nd ae e ndhanea ter han anygn dens ratai n e rshamea a Te iapa n M on t aon des. Ontes. the f of let of ager nd o ih ngat lyan ne ai ee i erev e vet er s la nethe nyng heattere of rencipoton for Aus n As dantper Page 2of0 Satenentof inand e RM 00 apety a Cehher 30 Cem 200 300 Teal ndlalte DLa z, e e la M aa e mnhe be ein to v ann aing o .co e enet ng ten nningtndabe doedirat beed on igr Ie mel g a nin e e panha al e y 2. Denghe aa a p 1 O eter men d e A h yi sha e Ta mmon da mothe andne p n.c n e a te ar w t bydid AA Pa Lof n Pge 2 of 10 Saement of Financia Postion Audi Acun hd Jagar hd anta Propets at Invetments in bdais eorie 200 Trade recivables 1,100 Canh at bank 300 300 20 Or s of M enh 2000 Ratained proft 1440 Denerderves 400 LON D G00 400 2/5 Te pvae 130 43 Trade payat 200 Ordinary divitend pabie 100 SL Total ecuty and kabit Other reant intormatian On 1 October 2013, the tair val of the land of Aad d was PMI00000 ore than ta book 1. val. Na adjutment ha been nude in it account ta incorperate thi new value 2. Jaguar id sold an ecianent withacamingvalue of MO000 kud hdar k 0. The orert wn hng ten yen remae efe and to be deree binet on stg ne rehot. pving year' deprecon the year of purchase and none te year at Dring te year, kcara nd uole goodi a prica of Mi nilianto had ndna praft rargie at 2IK One queter of these poos reman usold in Ahent30 Aume 208 ihd as et aeoeesae of dvidendk recevale ton vees Trade es of adde asod d his aot i aher edating ert of Vea000 semtted by Aeurhdan 38 ne 20LE he setce w onl recived by ad do yao Induded in the truce pyatlen of Aud ndv0000 due trom agaar hd. Group patc 7. fer ei ment etthe goedhel ncoroldon, end L. Nan-controling interet is to be vald at it praportiaruse share of the fair alue of the dete ret nset of the suteries on the dete of aoen euied Prepane the Conolidad Stusemet of Faancial Position of udi nd Groug an at 1 March a.00PLOSCH ( ak Discens he relatehp beveen Add ard lepr h d dhpesed 2 of tsharm in ag C Get Homework Help With Chegg x ignment- Sept2019 x + /54742/mod_resource/content/1/Individual%20Assignment-%20Sept2019.pdf 1/5 DOE DATE20 DECEMBEA 20D Oblective: CLO 2- To prepare consolidated financial statements for Malaysian company (CLO2: PLO2:C3) (35 MARKS) QUESTION 1 Audi Bhd is a manufacturer of luxury cars and has been in operation for more than 20 years. As to remain competitive in the industry, Audi Bhd had acquired the shareholding in Acura Bhd and Jaguar Bhd. The details of the business acquisition were as follows; Acquisition in Acura Bhd Audi Bhd acquired 800,000 out of 4 million of the ordinary shares of Acura Bhd on 1 July 2015 for RM880,000 when the retained profit of Acura Bhd had a debit balance of RM40,000. On 1 July 2106, Audi Bhd acquired another 2.4 million ordinary shares of Acura Bhd for RM2,880,000. The reported retained profit and general reserve of Acura Bhd were amounted to RM200,000 and RM100,000 respectively. On the acquisition date, the fair values of the assets in Acura Bhd were reflected its fair values except for a piece of land of Acura Bhd. The land was having a fair value of RM200,000 more than its carrying value. Acura Bhd did not adjust its record to account for the increase in values for the asset. Acquisition in Jaguar Bhd On 10 July 2017, Acura Bhd acquired 60% of the ordinary shares in Jaguar Bhd for RM1,500,000. Acura Bhd's ordinary shares were amounted to 2 million units. The retained profit of Jaguar Bhd was recorded at RM360,000 on the acquisition date. On this date, the fair value of a plant of Jaguar Bhd was RM10,000 more than its carrying amount with five years of remaining useful life. No adjustment has been made in the books of Jaguar to recognize the ew value. The fair values of all other assets of Jaguar Bhd remained the same as its carrying values. The following are the summarized statements of financial position for Audi Bhd, Acura Bhd and Jaguar Bhd as at 30 June 2018. AB Pr ASUS C Get Homework Help With Chegg + ual Assignment- Sept2019 x x ile.php/54742/mod_resource/content/1/Individual%20Assignment-%20Sept2019.pdf Statement of Financial Position as at 30 June 2018 Audi Bhd Acura Bhd Jaguar Bhd RM '000 RM '000 RM '000 Assets Property, plant & equipment 3,980 45,500 3,090 Investments in subsidiaries 3,760 1,500 Inventories 720 200 400 Trade receivables. 1,100 640 200 Cash at bank 300 300 20 51,380 6,620 Total assets 3,710 Equity and Liabilities Ordinary shares of RM1 each Retained profit 35,000 4,000 2,000 14,000 1,440 1,070 General reserves 800 400 200 10% Debentures 600 460 260 Tax payable 110 40 40 Trade payables Ordinary dividend payable 770 200 100 100 80 40 Total equity and liabilities 51,380 6,620 3,710 Other relevant information: On 1 October 2017, the fair value of the land ot Audi Bhd was RM100,000 more than its book value, No adjustment has been made in its account to incorporate this new value. 1. Jaguar Bhd sold an equioment with a carrying value of RM50.000 to Audi Bhd for RM/0.000 The 2. Pr -7620sept2019.pdf Total equity and liabilities 51,380 6,620 3,710 Other relevant information: On 1 October 2017, the fair value of the land of Audi Bhd was RM100,000 more than its book value. No adjustment has been made in its account to incorporate this new value. 1. Jaguar Bhd sold an equipment with a carrying value of RM50,000 to Audi Bhd for RM70,000. The equipment was having ten years remaining useful life and to be depreciated based on straight line method, giving full year's depreciation in the year of purchase and none in the year of disposal. 2. During the year, Acura Bhd sold goods at a price of RM1 million to Audi Bhd at a profit margin of 25%. One- quarter of these goods remain unsold in Audi Bhd as at 30 June 2018. 3. Audi Bhd has yet to recognize its share of dividends receivable from its investees. 4. Trade payables of Acura Bhd include RM50,000 due to Audi Bhd. This amount is after deducting a payment of RM50,000 remitted by Acura Bhd on 28 June 2018. The remittance was only received by Audi Bhd on 4 July 2018. 5. Included in the trade payables of Audi Bhd is RM200,000 due from Jaguar Bhd. 6. Page 3 of 10 ACCT3132/Sept/Oct2018 Kle.php/54/42/mod_resource/content/1/Indiviaual%20Assignment-%20Sept2019.pdf 7. Group policies : i. 10% for the impairment of the goodwill on consolidation, and ii. Non-controlling interest is to be valued at its proportionate share of the fair value of the identifiable net assets of the subsidiaries on the date of acquisition. Required: a. Prepare the Consolidated Statement of Financial Position of Audi Bhd Group as at 31 March 2018. Disclose all workings. (CLO2:PLO6:C3) (30 marks) b. Discuss the relationship between Audi Bhd and Jaguar Bhd if Audi Bhd disposed 20% of its shares in Jaguar Bhd. (CLO3:PLO2:C5) (5 marks) QUESTION 2 (25 MARKS)