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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
Ordinary Dividend Payable
27,000
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
An industrial drill costs $60.000 to purchase and $10,000 to install seven years ago. The market value now is $33.000 and this will decline by 12% of current value each year for th
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