(RM) Curie do Bhd (RM) 562,930 + The following are statements of financial position as at 31 December 20X7: Pascal Bhd. Saville Sdo. Bhd (RM) Assets Non-current assets: Property, plant and equipment 3,780,000 1,177.250 Investments in Saville San Bad - 720,00 units ordinary shares (75%) 850.000 - 20,000 units 10% cumulative 20,000 preference shares (20%) 48,000 - RM8,000 8% debentures Current assets: Inventories 195,600 100.800 Trade receivables 150,000 96.000 Bill receivables 81,600 46,800 Loan to Saville 84,000 Nil Cash in bank 79,200 76,000 Total 5,288,400 1,496,850 Equities & Liabilities Ordinary shares 3.925,000 974,000 10% Cumulative Preference shares 750,000 100.000 Revaluation reserve 17,000 8.200 Retained earings bu 217,100 18.170 Profit for the year 116,300 45.280 8% Debentures NI 80.000 Current liabilities: Trade payables 143,000 87,200 Bills payables 120,000 100,000 Loan from Pascal Bhd 84,000 Total 5,288,400 1,496,850 56,860 49,510 Nil Nil 37,800 707,100 580,000 26.000 31,020 22.630 nil 47.250 Nil Nil 707,100 Additional information: 1. Pascal Berhad acquired the shares and debentures of Saville on 1 January 20X6 when the retained earnings of Saville was RM11,000. On the acquisition date, one of the machinery belonging to Saville which had a net book value of RM91,000 was estimated to have a fair value of RM77,000. The estimated useful life of the machine was 7 years on the date of acquisition. The adjustment in fair value has not been recorded. On 1 July 20X7, Saville sold to Pascal equipment with the carrying cost of RM60,000 for RM72,000. The estimated useful life of this equipment is 6 years. 2. 3. During the year, Saville sold inventories to Pascal at cost plus 25% with the sales price of RM65,000.70% of the inventories have been sold. 4. The directors of Saville have declared full year dividends for cumulative preference shares and half year interest for the debentures has not been accrued. Pascal Berhad has declared ordinary shares dividends of Ssen/share. Pascal has 3 million shares in issuance. 5. Interest on loan given by Pascal to Saville has not been accrued. The interest rate is 10% per annum 6. Pascal acquired 60% (300,000 units) of the ordinary shares of Curie Sdo Bhd on 1 January 20X7 by issuing 1 ordinary share for every 2 shares acquired in Curie. The fair value of Pascal's ordinary shares on this date was RM2.90. Pascal will also be required to pay an additional RM108,000 for this acquisition on 1 January 20x8. The cost of capital is 8% per annum. 7. The group uses use straight line method of depreciation chargeable on a monthly basis. Partial goodwil is applied to prepare the group accounts. Goodwill was impaired by 50% for Saville on 31 December 20X7. On 31 December 20X7, plant belonging to Pascal and Saville had fair values of RM2,500 and RM1,200 more respectively than the carrying value. 8. Required: Prepare the consolidated statement of financial position for the group as at 31 December 20x7. Note: Show all relevant workings. (RM) Curie do Bhd (RM) 562,930 + The following are statements of financial position as at 31 December 20X7: Pascal Bhd. Saville Sdo. Bhd (RM) Assets Non-current assets: Property, plant and equipment 3,780,000 1,177.250 Investments in Saville San Bad - 720,00 units ordinary shares (75%) 850.000 - 20,000 units 10% cumulative 20,000 preference shares (20%) 48,000 - RM8,000 8% debentures Current assets: Inventories 195,600 100.800 Trade receivables 150,000 96.000 Bill receivables 81,600 46,800 Loan to Saville 84,000 Nil Cash in bank 79,200 76,000 Total 5,288,400 1,496,850 Equities & Liabilities Ordinary shares 3.925,000 974,000 10% Cumulative Preference shares 750,000 100.000 Revaluation reserve 17,000 8.200 Retained earings bu 217,100 18.170 Profit for the year 116,300 45.280 8% Debentures NI 80.000 Current liabilities: Trade payables 143,000 87,200 Bills payables 120,000 100,000 Loan from Pascal Bhd 84,000 Total 5,288,400 1,496,850 56,860 49,510 Nil Nil 37,800 707,100 580,000 26.000 31,020 22.630 nil 47.250 Nil Nil 707,100 Additional information: 1. Pascal Berhad acquired the shares and debentures of Saville on 1 January 20X6 when the retained earnings of Saville was RM11,000. On the acquisition date, one of the machinery belonging to Saville which had a net book value of RM91,000 was estimated to have a fair value of RM77,000. The estimated useful life of the machine was 7 years on the date of acquisition. The adjustment in fair value has not been recorded. On 1 July 20X7, Saville sold to Pascal equipment with the carrying cost of RM60,000 for RM72,000. The estimated useful life of this equipment is 6 years. 2. 3. During the year, Saville sold inventories to Pascal at cost plus 25% with the sales price of RM65,000.70% of the inventories have been sold. 4. The directors of Saville have declared full year dividends for cumulative preference shares and half year interest for the debentures has not been accrued. Pascal Berhad has declared ordinary shares dividends of Ssen/share. Pascal has 3 million shares in issuance. 5. Interest on loan given by Pascal to Saville has not been accrued. The interest rate is 10% per annum 6. Pascal acquired 60% (300,000 units) of the ordinary shares of Curie Sdo Bhd on 1 January 20X7 by issuing 1 ordinary share for every 2 shares acquired in Curie. The fair value of Pascal's ordinary shares on this date was RM2.90. Pascal will also be required to pay an additional RM108,000 for this acquisition on 1 January 20x8. The cost of capital is 8% per annum. 7. The group uses use straight line method of depreciation chargeable on a monthly basis. Partial goodwil is applied to prepare the group accounts. Goodwill was impaired by 50% for Saville on 31 December 20X7. On 31 December 20X7, plant belonging to Pascal and Saville had fair values of RM2,500 and RM1,200 more respectively than the carrying value. 8. Required: Prepare the consolidated statement of financial position for the group as at 31 December 20x7. Note: Show all relevant workings