Alvin, Bear, Chiho and Donald each hold a 25% interest in entity Jaguar. Decisions in Jaguar...

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Alvin, Bear, Chiho and Donald each hold a 25% interest in entity Jaguar. Decisions in Jaguar needs to be approved by a 75% vote of combination of any of the parties. Is Jaguar jointly controlled? Explain. ABC requires a 75% majority to approve decisions regarding the relevant activities of the entity. It also outlines that each shareholder is entitled to vote in proportion to their respective ownership interests. Details of the shareholdings are as below: Shareholder A holds 51 % Shareholder B holds 30% The remainder 19% are held by other investors (widely spread) Is ABC jointly controlled? ● The summarized Statement of Financial Position of P Bhd. and S Bhd. as at 31 December 2016 is shown below: Non - current assets Property, plant & equipment Investment in S Bhd. Current assets Share capital Retained earnings b/f Retained earnings - current year Current liabilities Additional information: (i) (ii) (iii) P Bhd. RM '000 720 185 175 1,080 400 500 60 120 1,080 S Bhd. RM '000 160 95 255 100 60 12 83 255 P Bhd. acquired 60% of S Bhd. on the date of acquisition (1/7/2016) P Bhd. adopts the proportional net assets value method in valuation of non- controlling interest. At date of acquisition, fair value of NCI was RM 50,000 Prepare the Consolidated Statement of Financial Position as at 31/12/2016. Alvin, Bear, Chiho and Donald each hold a 25% interest in entity Jaguar. Decisions in Jaguar needs to be approved by a 75% vote of combination of any of the parties. Is Jaguar jointly controlled? Explain. ABC requires a 75% majority to approve decisions regarding the relevant activities of the entity. It also outlines that each shareholder is entitled to vote in proportion to their respective ownership interests. Details of the shareholdings are as below: Shareholder A holds 51 % Shareholder B holds 30% The remainder 19% are held by other investors (widely spread) Is ABC jointly controlled? ● The summarized Statement of Financial Position of P Bhd. and S Bhd. as at 31 December 2016 is shown below: Non - current assets Property, plant & equipment Investment in S Bhd. Current assets Share capital Retained earnings b/f Retained earnings - current year Current liabilities Additional information: (i) (ii) (iii) P Bhd. RM '000 720 185 175 1,080 400 500 60 120 1,080 S Bhd. RM '000 160 95 255 100 60 12 83 255 P Bhd. acquired 60% of S Bhd. on the date of acquisition (1/7/2016) P Bhd. adopts the proportional net assets value method in valuation of non- controlling interest. At date of acquisition, fair value of NCI was RM 50,000 Prepare the Consolidated Statement of Financial Position as at 31/12/2016.