Events in $20$X$020$X$2$

On $2$ January $20$X$0,$ Britania incorporates a wholly$-$owned separate legal entity, Wahyuni Resort, in the Republic of Africania by contributing $10,000,000$ to form Wahyuni Resort$$s permanent capital. On $3$ January $20$X$0,$ Wahyuni Resort obtains an $8,000,000$ loan facility from a British bank. The loan is denominated in British pounds $().$ The loan agreement obligates the bank to transfer $8,000,000$ to Wahyuni Resort on $3$ January $20$X$0$ and Wahyuni Resort to transfer to the bank ten years later $13,031,157$ on $2$ January $20$Y$0($in full and final settlement of the loan$).$ Britania Corporation guarantees all payments to the bank in the event that Wahyuni Resort defaults.

Final Exam Financial Accounting Seminar June $2024$

Ersa Tri Wahyuni, PhD $5$

In July $20$X$3$ there is a major earthquake in the Freelands which make some buildings and tent damaged significantly. Wahyuni Resort need major renovations and the group tour booking need to be cancelled and the money need to be returned back to the customers.

$1$ December $20$X$9$

After the major Earthquake, the business of Wahyuni Resort is declined as customers are afraid to come and consider the Resort is high risk. After operating for $7$ years, Britania Corporation as the parent of Wahyuni Resort, decided to sell the business. Wahyuni Resort is still operating and produce little profit. Britania Corporation is actively looking for business buyer but until the end of December $20$X$9,$ they have not found an interested buyer.

Explain about the fact that the parent company would like to sell the Safari Business and its impact to the financial report of Britania Corporation on $31$ December $20$X$9,$ both to the financial position

and financial performance report. Explain using relevant Standard