Prepare the consolidated statement of financial position

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Reference no: EM132855566

Question - Below are the statements of financial position for Abang Berhad and Adik Berhad as at 30 September 2019.

Statement of Financial Position

 

Abang Berhad RM'000

Adik Berhad RM'000

Ordinary share capital

1,200

400

Retained profits

800

200

Total Liabilities

80

60

 

2,080

660

Non-current assets

800

340

Investment - Adik Berhad

800

-

Current assets

480

320

 

2,080

660

Abang Berhad acquired the 400,000 ordinary share capital of Adik Berhad by paying RM800,000 cash.

Required -

a) Compute the goodwill arise form that transaction.

b) Prepare Consolidation Journal Entry.

c) Prepare the consolidated statement of financial position as at 30 September 2019.

Reference no: EM132855566

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