Question 2 The following are the following Statements of Financial Position as at 31 December 2020: Ribut (RM000) Taufan (RM000) Hujan (RM000) Investment - Ordinary shares in Taufan - Ordinary shares in Hujan 3,120 1,150 Land 7,300 2,660 1,270 Plant & Machinery 2,190 1,040 530 Equipment 1,270 610 290 Current assets: Inventories Trade receivables Cash in bank 722 771 1,306 152 61 50 199 67 1,130 Total 16,679 5,723 3,486 Ordinary shares 10,000 3,000 2,000 Revaluation reserve 980 760 330 Retained earnings @ 1 Jan 2020 3,700 988 604 Profit for the year 911 744 287 Trade payables 1,088 231 265 Total 16,679 5,723 3,486 Additional information: 1. Ribut Bhd acquired 60% of the ordinary shares belonging to Taufan Sdn Bhd on 1 January 2019 for a cash consideration of RM3.2 million when the retained eanings of Taufan was RM750,000. On 1 January 2020, Taufan Sdn Bhd acquired 75% of the ordinary shares in Hujan Sdn Bhd for RM1 million. There is no issuance of new shares or any fair value adjustment subsequent to 1 January 2019. 2. During the year, Taufan sold to Hujan inventories at cost plus 25%. The invoice value was RM120,000 of which 50% has been sold. Hujan also sold equipment to Ribut during the year at the invoice price of RM90,000. This equipment has been marked up by RM30,000. The useful life of the equipment is 6 years. Full depreciation is charged in the year of acquisition and none in the year of disposal. The group practices straight line depreciation and partial goodwill. Required: Prepare the consolidated statement of financial position for the group as at 31 December 2020. Show the relevant workings. [20 marks]

Question 2 The following are the following Statements of Financial Position as at 31 December 2020: Ribut Taufan Hujan (RM'000) (RM'000) (RM'000) Investment Ordinary shares in Taufan 3,120 Ordinary shares in Hujan 1,150 Land 7,300 2,660 1,270 Plant & Machinery 2,190 1,040 530 Equipment 1,270 610 290 Current assets: Inventories 722 152 199 Trade receivables 771 61 67 Cash in bank 1,306 50 1,130 Total 16,679 5,723 3,486 Ordinary shares Revaluation reserve Retained earnings @ 1 Jan 2020 Profit for the year Trade payables Total 10,000 980 3,700 911 1,088 16,679 3,000 760 988 744 231 5,723 2,000 330 604 287 265 3,486 Additional information: 1. Ribut Bhd acquired 60% of the ordinary shares belonging to Taufan Sdn Bhd on 1 January 2019 for a cash consideration of RM3.2 million when the retained eanings of Taufan was RM750,000. On 1 January 2020, Taufan Sdn Bhd acquired 75% of the ordinary shares in Hujan Sdn Bhd for RM1 million. There is no issuance of new shares or any fair value adjustment subsequent to 1 January 2019. 2. During the year, Taufan sold to Hujan inventories at cost plus 25%. The invoice value was RM120,000 of which 50% has been sold. Hujan also sold equipment to Ribut during the year at the invoice price of RM90,000. This equipment has been marked up by RM30,000. The useful life of the equipment is 6 years. Full depreciation is charged in the year of acquisition and none in the year of disposal. The group practices straight line depreciation and partial goodwill. Required: Prepare the consolidated statement of financial position for the group as at 31 December 2020. Show the relevant workings. [20 marks]