Additional information: During the year, Hyun Bin sold inventories to Son YJ at cost plus 25%. Invoice
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Question:
Additional information:
- During the year, Hyun Bin sold inventories to Son YJ at cost plus 25%. Invoice value is RM150,000. Son YJ has sold 60% of these inventories.
- Current year revaluation of assets refers to land revaluation of RM200,000.
- In December 2020, Son YJ declared preference shares dividends of 5% which has not yet been accrued.
- The group uses equity method accounting to prepare its group accounts.
Required:
- Prepare the Group Statement of Financial Position for Hyun Bin group as at 31 December 2020.
- Prepare the Group Statement of Comprehensive Income for Hyun Bin group for year ended 31 December 2020.
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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