Questions in the picture, a total of A + B

Evaluate the statement above with reference to any applicable accounting standard and demonstrate the application of IFRS 10 Consolidated nancial statements with the scenario provided below. Further, you must prepare a simplied consolidated statement of nancial position as at 31" December 2020 to support your demonstration. Scenario: P acquires 100% of S's ordinary shares for RM1.500.000 on 31" December 2018. S's reserves {consists of only retained earnings) were RM 400,000 at the date of acquisition. The following presents the statement of nancial position of both companies as at 31" December 2020. P S Notes RM RM As at 3 lat Dec 2020 '000 '000 Non-current assets: Property. Plant and equipment 2.000 1,000 Goodwill Investment in S 1,500 Net current asset 300 200 3,800 1,200 Share capital 300 800 Retained earnings 3.500 400 3,800 1.200 b) Assuming P omitted certain transactions as illustrated below, prepare a revised statement of nancial position for P as at 31\" December 2020. You must also discuss about the accounting treatment for the omitted (i) and (iii) with reference to any applicable accounting standard. i) P acquired a new warehouse for RM1,000,000 on 1" Jan 2020 with an estimated useful life of 20 years. The factory was brought into use immediately on the same day. The company adopts a cost model for all Property, plant and machinery. ii) Account receivable will be provided a doubtil debt allowance of 10% of the outstanding amount. P had an outstanding account receivable of RM100,000 as at 31it December 2020 iii) With a surplus funds of few millions, P invested in a number of commercial lots for RM3,000,000 during the year of 2020. These properties are estimated to have a 20-years of useful life. The market value of these properties stands at RM3,300,000 at the end of December 2020. iv) Due to a technical error, the controller found that the retained earnings of the company should be RM7,440,000 instead of RM3,500,000