Below are the statements of financial position of Macbeth, Julius and Caesar as at 31 December...

 

 

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Below are the statements of financial position of Macbeth, Julius and Caesar as at 31 December x9. Macbeth Julius RM'000 RM'000 6,000 4,400 1,000 400 500 600 100 400 5,900 Equity and Liabilities Ordinary share capital Retained profit at 1 January x9 Profit for the year Current account - Macbeth Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Julius at cost Ordinary shares in Caesar at cost Inventory Current - Julius Current - Caesar DTrade and other receivables Bank 900 8,400 3,200 3,400 600 300 100. 100 400 300 8,400 3,000 3000 400 300 200 5,900 Caesar RM'000 2,200 500 200 80 300 3,280 2,500 400 200 180 3,280 a Additional information: Macbeth acquired 2.4 million of the 3 million issued ordinary shares of Julius on 1 January x8 when the retained profit of Julius was RM600,000 Forty percent of partial goodwill was impaired. b. The issued share capital of Caesar comprised 2,000,000 ordinary shares. Macbeth and Julius bought 400,000 and 1,200,000 ordinary shares, respectively, of Caesar on 1 January x9. Caesar did not issue any new shares during the year. A plant with a carrying value of RM1 million had a fair value of RM1.2 million on 1 January x9. The remaining life of the plant on 1 January x9 was five years. C. Any difference in the current accounts is due to cash in transit. Required: Prepare the consolidated statement of financial position as at 31 December 9. 15.3 Given below are the statements of financial position of Hamlet, Romeo and Juliet as at 31 December x10. Romeo Subjet to 10% interest. RM'000 3,000 800 Equity and Liabilities Ordinary share capital Retained profit 10% debentures long-term limbiong, Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Romeo at cost Ordinary shares in Juliet at cost 10% debentures in Juliet Current assets Hamlet RM'000 10,000 2,000 400 12,400 Complex Group Structure 573 8,000 2,800 500 1,100 12,400 500 4,300 2,000 2,000 100 200 4,300 Juliet RM'000 2,000 700 300 300 3,300 3,000 300 3,300 Additional information: a. Hamlet acquired 2.4 million of the 3 million ordinary shares of Romeo on 1 January x5 when the retained profit of Romeo was RM300,000 and the retained profit of Juliet was RM20,000. b. Romeo bought 800,000 of the 2 million issued ordinary shares in Juliet on 1 January x6 when the retained profit Juliet was RM500,000. On the same date, Hamlet bought 400,000 ordinary shares of Juliet. On 1 January x6, a piece of land of Juliet had a fair value that was RM1 million more than its carrying value. Juliet uses the cost model to value its non-current assets. Romeo bought RM100,000 of the 10 percent debentures of Juliet on 1 July x9. d. Jullet has not accrued the second half-year debenture interest. Required: Prepare the consolidated statement of financial position as at 31 December x10. a. 15,4 Below are the statements of financial position of Hugh, Garry and Grant as at 31 December x6. Hugh RM'000 C. Equity and Liabilities Ordinary share capital Retained profit at 1 January x6 Profit for the year Redeemable preference share capital Bills payable Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Garry at cost Ordinary shares in Grant at cost Redeemable preference shares Inventory Bills receivable Trade and other receivables Bank 900 100 50 10 57 1,117 520 500 25 40 32 1,117 Garry RM'000 500> 80 30 15 24 649 339 200 60 A 30 16. 649 Grant RM'000 300 40 30 100 6 24 500 342 100 3 35 20 500 Additional information: a. Hugh acquired 400,000 of the 500,000 issued ordinary shares of Garry on 1 January x6. b. Garry acquired 180,000 of the 300,000 issued ordinary shares of Grant on 1 January x3 when the retained profits of Garry and Grant were RM20,000 and RM5,000, respectively. On 1 January x5, Garry acquired 60,000 preference shares of Grant. Grant has not provided for the current year's preference dividends of RM10,000 and Garry has not recognised its share of preference dividends from Grant. d. The bills payable of Garry and Grant are in favour of Hugh. None of these bills have been discounted. Required: From the information given, prepare the consolidated statement of financial position as at 31 December x6. 15.6 Given below are the statements of profit or loss of Ahsun, Beesun and Chaisun for the year ended 31 December a. Turnover Cost of sales Expenses Dividends from Beesun Dividends from Chaisun Taxation L 4. Dividends paid Retained profit at 1 January x9 Ahsun RM'000 2,000 (800) 1,200 (400) 800 160 40 1,000 (300) 700 200 400 Beesun RM'000 3,000 (1,200) 1,800 (600) 1,200 100 1,300 (300) 1,000 200 300 Required: i. Calculate the goodwill for each acquisition. ii. Prepare the consolidated statement of profit or loss for the year ended 31 December x9. iii. Shew the composition of the group's retained profit as at 31 December x9. Chaisun RM'000 2,000 (1,000) 1,000 (300) ***** 700 700 (200) Additional information: On 1 January x7, Ahsun acquired 80 percent of the issued ordinary shares of Beesun for RM1,700,000 when the retained profit of Beesun was RM100,000 and the fair value of the net assets of Beesun was RM2,000,000. Additional depreciation on fair value recognition of the net assets was RM20,000 per annum Twenty percent of goodwill was impaired on 31 December x8. b. On 1 January x9, Ahsun and Beesun acquired 20 percent and 50 percent of the issued ordinary shares of Chaisun for RM300,000 and RM900,000, respectively. The fair value of the net assets of Chaisun was RM1,200,000 on 1 January x9. 500 200 400 15.7 The facts are as stated in Question 15.6 above except that Beesun bought the shares in Chaisun on 1 April 9 when the fair value of the net assets of Chaisun was RM1,325,000. There was no significant change in the far value of Chaisun's shares from 1 January x9 to 1 April x9. Required: Prepare the consolidated statement of profit or loss for the year ended 31 December x9. Show the composition of the group's retained profit as at 31 December x9. Below are the statements of financial position of Macbeth, Julius and Caesar as at 31 December x9. Macbeth Julius RM'000 RM'000 6,000 4,400 1,000 400 500 600 100 400 5,900 Equity and Liabilities Ordinary share capital Retained profit at 1 January x9 Profit for the year Current account - Macbeth Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Julius at cost Ordinary shares in Caesar at cost Inventory Current - Julius Current - Caesar DTrade and other receivables Bank 900 8,400 3,200 3,400 600 300 100. 100 400 300 8,400 3,000 3000 400 300 200 5,900 Caesar RM'000 2,200 500 200 80 300 3,280 2,500 400 200 180 3,280 a Additional information: Macbeth acquired 2.4 million of the 3 million issued ordinary shares of Julius on 1 January x8 when the retained profit of Julius was RM600,000 Forty percent of partial goodwill was impaired. b. The issued share capital of Caesar comprised 2,000,000 ordinary shares. Macbeth and Julius bought 400,000 and 1,200,000 ordinary shares, respectively, of Caesar on 1 January x9. Caesar did not issue any new shares during the year. A plant with a carrying value of RM1 million had a fair value of RM1.2 million on 1 January x9. The remaining life of the plant on 1 January x9 was five years. C. Any difference in the current accounts is due to cash in transit. Required: Prepare the consolidated statement of financial position as at 31 December 9. 15.3 Given below are the statements of financial position of Hamlet, Romeo and Juliet as at 31 December x10. Romeo Subjet to 10% interest. RM'000 3,000 800 Equity and Liabilities Ordinary share capital Retained profit 10% debentures long-term limbiong, Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Romeo at cost Ordinary shares in Juliet at cost 10% debentures in Juliet Current assets Hamlet RM'000 10,000 2,000 400 12,400 Complex Group Structure 573 8,000 2,800 500 1,100 12,400 500 4,300 2,000 2,000 100 200 4,300 Juliet RM'000 2,000 700 300 300 3,300 3,000 300 3,300 Additional information: a. Hamlet acquired 2.4 million of the 3 million ordinary shares of Romeo on 1 January x5 when the retained profit of Romeo was RM300,000 and the retained profit of Juliet was RM20,000. b. Romeo bought 800,000 of the 2 million issued ordinary shares in Juliet on 1 January x6 when the retained profit Juliet was RM500,000. On the same date, Hamlet bought 400,000 ordinary shares of Juliet. On 1 January x6, a piece of land of Juliet had a fair value that was RM1 million more than its carrying value. Juliet uses the cost model to value its non-current assets. Romeo bought RM100,000 of the 10 percent debentures of Juliet on 1 July x9. d. Jullet has not accrued the second half-year debenture interest. Required: Prepare the consolidated statement of financial position as at 31 December x10. a. 15,4 Below are the statements of financial position of Hugh, Garry and Grant as at 31 December x6. Hugh RM'000 C. Equity and Liabilities Ordinary share capital Retained profit at 1 January x6 Profit for the year Redeemable preference share capital Bills payable Trade and other payables Assets Non-current assets Investment in subsidiaries Ordinary shares in Garry at cost Ordinary shares in Grant at cost Redeemable preference shares Inventory Bills receivable Trade and other receivables Bank 900 100 50 10 57 1,117 520 500 25 40 32 1,117 Garry RM'000 500> 80 30 15 24 649 339 200 60 A 30 16. 649 Grant RM'000 300 40 30 100 6 24 500 342 100 3 35 20 500 Additional information: a. Hugh acquired 400,000 of the 500,000 issued ordinary shares of Garry on 1 January x6. b. Garry acquired 180,000 of the 300,000 issued ordinary shares of Grant on 1 January x3 when the retained profits of Garry and Grant were RM20,000 and RM5,000, respectively. On 1 January x5, Garry acquired 60,000 preference shares of Grant. Grant has not provided for the current year's preference dividends of RM10,000 and Garry has not recognised its share of preference dividends from Grant. d. The bills payable of Garry and Grant are in favour of Hugh. None of these bills have been discounted. Required: From the information given, prepare the consolidated statement of financial position as at 31 December x6. 15.6 Given below are the statements of profit or loss of Ahsun, Beesun and Chaisun for the year ended 31 December a. Turnover Cost of sales Expenses Dividends from Beesun Dividends from Chaisun Taxation L 4. Dividends paid Retained profit at 1 January x9 Ahsun RM'000 2,000 (800) 1,200 (400) 800 160 40 1,000 (300) 700 200 400 Beesun RM'000 3,000 (1,200) 1,800 (600) 1,200 100 1,300 (300) 1,000 200 300 Required: i. Calculate the goodwill for each acquisition. ii. Prepare the consolidated statement of profit or loss for the year ended 31 December x9. iii. Shew the composition of the group's retained profit as at 31 December x9. Chaisun RM'000 2,000 (1,000) 1,000 (300) ***** 700 700 (200) Additional information: On 1 January x7, Ahsun acquired 80 percent of the issued ordinary shares of Beesun for RM1,700,000 when the retained profit of Beesun was RM100,000 and the fair value of the net assets of Beesun was RM2,000,000. Additional depreciation on fair value recognition of the net assets was RM20,000 per annum Twenty percent of goodwill was impaired on 31 December x8. b. On 1 January x9, Ahsun and Beesun acquired 20 percent and 50 percent of the issued ordinary shares of Chaisun for RM300,000 and RM900,000, respectively. The fair value of the net assets of Chaisun was RM1,200,000 on 1 January x9. 500 200 400 15.7 The facts are as stated in Question 15.6 above except that Beesun bought the shares in Chaisun on 1 April 9 when the fair value of the net assets of Chaisun was RM1,325,000. There was no significant change in the far value of Chaisun's shares from 1 January x9 to 1 April x9. Required: Prepare the consolidated statement of profit or loss for the year ended 31 December x9. Show the composition of the group's retained profit as at 31 December x9.

Answer rating: 100% (QA)

Macbeth Julius Caesar Equity and Liabilities RM000 RM000 RM000 Ordinary share capital 6000 4400 2200 Retained profit at 1 January x9 1000 400 500 Profit for the year 500 600 200 Current account Macbet... View the full answer