FAR5 - Chapter 7: Consolidated Statement of Financial Position Question 1 Dayang Berhad acquired 100% ordinary shares of Daia Berhad on 1st June 20XX. Below are the statements of financial position of Dayang Berhad and Daia Berhad. Machinery Plant, property and equipment Vehicles Inventories Account receivables Investment in Daia Berhad Account payables Long-term loans Ordinary shares Retained earnings Dayang Berhad (RM) 2,000,000 11,000,000 500,000 3,500,000 700,000 9,300,000 1,100,000 5,000,000 13,000,000 7,900,000 i. Calculate goodwill. ii. Record the relevant journal entries. iii. Prepare the consolidated statement of financial position. Daia Berhad (RM) 5,000,000 100,000 500,000 300,000 200,000 5,000,000 700,000

FAR5 - Chapter 7: Consolidated Statement of Financial Position Question 1 Dayang Berhad acquired 100% ordinary shares of Daia Berhad on 1st June 20XX. Below are the statements of financial position of Dayang Berhad and Daia Berhad. Machinery Plant, property and equipment Vehicles Inventories Account receivables Investment in Daia Berhad Account payables Long-term loans Ordinary shares Retained earnings Dayang Berhad (RM) 2,000,000 11,000,000 500,000 3,500,000 700,000 9,300,000 1,100,000 5,000,000 13,000,000 7,900,000 i. Calculate goodwill. ii. Record the relevant journal entries. iii. Prepare the consolidated statement of financial position. Daia Berhad (RM) 5,000,000 100,000 500,000 300,000 200,000 5,000,000 700,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: AFAR #185
39
last two questions
9. How much is the total consolidated assets on December 31, 2x19? 10. How much is the consolidated liabilities on December 31, 2x19? 11. How much is the consolidated stockholder’s equity on December 31, 2x19?
Question 1 (a)
ABC SAOG acquired land worth OMR 80,000 from CPD LLC and issued 70,000 equity shares of OMR1 as fully paid up. Which one of the following journal entry will be correct? a. Debit Share capital 80,000, Credit Land OMR 70,000 Credit Share Premium OMR 10,000 b. Debit Land OMR 80,000 Credit Share Capital OMR 80,000 c. Debit Land OMR 80,000 Credit Share capital OMR 70,000 Credit Share premium OMR 10,000 d. Debit Land OMR 70,000, Debit Share Premium OMR 10,000 Credit Share Capital OMR 80,000 The total Sales revenue of XYZ SAOG in Oman was OMR 3 million opening inventory was OMR 500,000, Its Purchase cost is OMR 1,500,000, Distribution cost was OMR 500,000 and General and Administration expense was OMR 200,000, Closing inventory was OMR 300,000. The value of Gross Profit was a. OMR 1,700,000 b. OMR 1,800,000 c. OMR 600,000 d. OMR 1,300,000
nku.3
3
Lavage Rapide is a Canadian company
Produce a consolidated balance sheet for Johnston Group as at 30 September 20X6 consistent with international accounting standards.
1
H1.