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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
340
Investment - Adik Berhad
-
Current assets
480
320
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.
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