The following are the statements of financial position of Wennie Sdn Bhd and Syahlen

Sdn Bhd as at 31 December 2019. Wennie Sdn. Bhd. purchased 80% the equity of

Syahlen Sdn. Bhd. on 31st December 2019. The assets and liabilities of Syahlen are

shown in its financial statements at what are agreed to be appropriate fair values.

Wennie (RM) Syahlen (RM)

Assets

Non-current assets

PPE 30,000 21,000

Investment in Syahlen Sdn Bhd 22,000

Net current assets 21,000 13,000

Total assets 73,000 34,000

Equity and liabilities

Share capital 26,000 12,000

Retained earnings 37,000 14,000

Current Liabilities 10,000 8,000

Total equity and liabilities 73,000 34,000

REQUIRED:

Compute Goodwill and prepare consolidated statement of financial position as at

31 December 2016.

(44 Marks)