The following are the statements of financial position as at 31 December 2019 Keris RM 6000 Tombak Meriam RM '000 RM 6000 14,400 480 960 8,000 576 512 Ordinary share capital Retained Profit Profit for the year Dividend Paid Loan from Tombak Overdraft Trade Payables 1280 400 1120 (160) 320 160 560 16,560 288 192 9,568 160 3,120 1,280 2880 3440 7200 1,600 3,360 3200 1440 Land Building Plant and machinery Investment in Tombak Investment in Meriam Loan to Meriam Trade Receivables Inventories Bank 1,424 960 512 48 64 48 16,560 384 448 256 480 9,568 64 96 64 3,120 Additional information: 1. Keris acquired 1,500,000 of the issued share capital Tombak on 1 January 2016 when Tombak's retained profit had a negative balance of RM320,000. The carrying value of Tombak's assets reflected fair value except for building which the fair value was in excess of the carrying amount of RM1,440,000. The remaining life of the building was 25 years. 2. Keris acquired 640,000 of the issued share capital of Meriam on 1 April 2019. The carrying value of its assets reflected fair value except for land which fair value was RM480,000 in excess of the carrying amount. Meriam paid a dividend of RM160,000 in March 2019. 3. During the year, Keris sold plant of carrying amount RM480,000 for RM800,000 to Tombak. Plant is depreciated at 20% on cost, with a full year's provision in the year of acquisition 4. Meriam sold inventory to Keris in the post-acquisition period. Intra-group profit in the closing inventory was RM8,000. 5. On 1 July 2019, Tombak gave a 10% loan to Meriam. It gave a further RM64,000 on 30 December 2019 which has not been recognized by Meriam. Meriam has not accrued the interest on the loan. Required: Prepare the consolidated statement of financial position of Keris Group as at 31 December 2019. Show all relevant workings. The following are the statements of financial position as at 31 December 2019 Keris RM 6000 Tombak Meriam RM '000 RM 6000 14,400 480 960 8,000 576 512 Ordinary share capital Retained Profit Profit for the year Dividend Paid Loan from Tombak Overdraft Trade Payables 1280 400 1120 (160) 320 160 560 16,560 288 192 9,568 160 3,120 1,280 2880 3440 7200 1,600 3,360 3200 1440 Land Building Plant and machinery Investment in Tombak Investment in Meriam Loan to Meriam Trade Receivables Inventories Bank 1,424 960 512 48 64 48 16,560 384 448 256 480 9,568 64 96 64 3,120 Additional information: 1. Keris acquired 1,500,000 of the issued share capital Tombak on 1 January 2016 when Tombak's retained profit had a negative balance of RM320,000. The carrying value of Tombak's assets reflected fair value except for building which the fair value was in excess of the carrying amount of RM1,440,000. The remaining life of the building was 25 years. 2. Keris acquired 640,000 of the issued share capital of Meriam on 1 April 2019. The carrying value of its assets reflected fair value except for land which fair value was RM480,000 in excess of the carrying amount. Meriam paid a dividend of RM160,000 in March 2019. 3. During the year, Keris sold plant of carrying amount RM480,000 for RM800,000 to Tombak. Plant is depreciated at 20% on cost, with a full year's provision in the year of acquisition 4. Meriam sold inventory to Keris in the post-acquisition period. Intra-group profit in the closing inventory was RM8,000. 5. On 1 July 2019, Tombak gave a 10% loan to Meriam. It gave a further RM64,000 on 30 December 2019 which has not been recognized by Meriam. Meriam has not accrued the interest on the loan. Required: Prepare the consolidated statement of financial position of Keris Group as at 31 December 2019. Show all relevant workings
