Reference no: EM133067481

Question 1 - The following is the financial statement of Oxford Berhad and Cardiff Sdn Bhd as at 31 December 2020.

	Oxford RM	Cardiff RM
Plant, property and equipment	250,000	120,000
Current assets	295,000	55,000
	545,000	175,000
Ordinary Shares Capital	220,000	120,000
Retained Earnings	142,000	16,000
Long-term liabilities	183,000	39,000
	545,000	175,000

As at 31 December 2020 the Oxford Berhad has acquired a 100% stake in Cardiff Sdn Bhd for a purchase consideration of RM200,000in cash. Both companies have also not taken into account the following:

1. The fair value of Cardiff's Plant, Property and Equipment has increased to RM135,000.

2. Cardiff Sdn Bhd also has a patent worth RM12,000.

Required - Prepare consolidated financial position statements as at 3 December 2020 following the acquisition of Cardiff Sdn Bhd.

Question 2 - As at 30 June 2020, Syarikat Murni Bhd acquired 80% ordinary shares in Syarikat Saji Bhd for RM250,000 in cash. The financial position statements of both companies as at 30 June 2020, prior to the acquisition are as follows:

	Murni RM		Saji RM
Plant, property and equipment		1350000		220000
Current assets	455000		85000
Current liabilities	73000	382000	59000	26000
		1732000		246000
Ordinary Shares Capital		1400000		170000
Retained Earnings		302000		36000
Long-term liabilities		30000		40000
		1732000		246000

Required - Prepare the Consolidated Statement of Financial Position Statements as of 30 June 2020 after the merger of the two companies. All assets and liabilities are at fair value, except that the fair value of a property has increased by RM10,000 from its book value. Show the NCI calculations on the fair value of net assets.