Question 4 [25 Marks] The Statement of Financial Position of Setia Holding and Megah Holdings as at 31 December 2020 are as follows Setia Holding RM'000 Megah Holding RM'000 400 500 400 Non Current Assets Property Plant and equipment Investment in Megah Bhd Current assets Inventories Current account Megah Holdings Dividend receivable Trade receivable Total assets 280 80 120 180 300 1,580 220 900 1,000 240 400 100 Ordinary shares of RM1 aech Retained Profit Current Liabilities Current account Setia Holding Dividend payable Trade payable 100 200 100 900 340 1580 Additional Information: 1. On 1 January 2019, Setia Holding bought 90% of the issued shares of Megah Bhd when Megah Bhd retained earnings was RM40,000 2. The 10% non-controlling interest in Megah Holding had a fair value of M20,000 3. The land of Megah Bhd had a fair value of RM120,000 in excess of its book value at 31 December 2019.No adjustment had been made in the account of Megah holding for this fair value 4. During the year, Megah Holding declared RM200,000 dividends, for which Setia Holding had recognized its share of these dividends 5. The differences in the current accounts are due to cash in transit 6. Included in Setia Holding trade payables is RM50,000 due to Megah Holding. Setia Holding had factored Rm40,000 of this amount. Required: Prepared the consolidated statement of Financial Position on Setia Holding Bhd as at 31 December 2020 END OF QUESTION PAPER ACC 3434/BAC3174 (Bachelor of Accounting (Hons) July, 2021