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Question 2 (a) Donuts Bhd is the parent company to Bagels Sdn Bhd has acquired 80% (320,000 units) in Bagels on 1 September 2019. The
Question 2 (a) Donuts Bhd is the parent company to Bagels Sdn Bhd has acquired 80% (320,000 units) in Bagels on 1 September 2019. The following information was extracted from the statements of financial position of Donuts and Bagels as at 30 September 2020: Equity Ordinary shares 4% Preference shares 7% Debentures Donuts (RM) Bagels (RM) 2,000,000 500,000 600,000 250,000 200,000 120,000 Investment in Bagels: Ordinary shares (80%) Preference shares (50% Debentures (40%) 2.800,000 125,000 48,000 You were given the information that in August 2020, Donuts has declared 2% ordinary shares dividends and half year preference shares dividends. Bagels has declared 5sen/unit ordinary shares dividends, half year preference shares dividends. Both companies have not accrued the dividends and the full year debenture interest. i. Determine the dividends payables and interest payables for Donuts and Bagels ii. Determine the dividends receivables and interest receivables due from Bagelfor Donuts
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