Using the chosen company from Bursa Malaysia, prepare a consolidated accounts assuming that the chosen company acquire Sure Cargo Behard at 80% of its ordinary shares.
Given below is the balance sheet of Sure Cargo Berhad for the year ended December 2010.
|
|
RM
|
|
Non Current Assets
|
200,000
|
|
Inventory
|
20,000
|
|
Receivables
|
15,000
|
|
Bank
|
2,000
|
|
|
237,000
|
|
|
|
|
Ordinary Shares of RM 1 each
|
100,000
|
|
Retained Profit
|
55,000
|
|
Trade Payables
|
55,000
|
|
Ordinary Dividend Payable
|
27,000
|
|
|
237,000
|
Additional Information:
a. Sure Cargo Behard was acquired on 1 January 2008 when the retain profit were RM40,000.
b. Goodwill on consolidation is impaired by 40%.
Required:
i. Show the calculation of goodwill
ii. Calculate the group profit and loss.
iii. Prepare the consolidated Balance Sheet as at 31 December 2010