Given below are the statements of financial position of H and its subsidiary S as at 31 December 2021. dinary shares of RM1.00 each H RM 500,000 100.000 S RM 200,000 50.000
Given below are the statements of financial position of H and its subsidiary S as at 31 December 2021. dinary shares of RM1.00 each H RM 500,000 100.000 S RM 200,000 50.000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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![Question 1
a) Given below are the statements of financial position of H and its subsidiary S as at 31
December 2021.
Ordinary shares of RM1.00 each
Share premium
Revaluation reserve
Retained profit
Liabilities
Inventory
Accounts receivable
H
RM
120,000 250,000
70,000 100,000
Fixed Assets - Land
300,000
Investment in S - 150,000 ordinary shares at cost 250,000
RM
Share premium 50,000
Revaluation reserve 15,000
Retained profit 20,000
S
RM
500,000 200,000
100,000
50,000
40,000
30,000
50,000 20,000
50,000 50,000
740,000 350,000
i. NCI is not measured at fair value.
H acquired 150,000 of the ordinary shares of S on 1 January 2017 when the balance in
S's accounts were:
740,000 350,000
Required:
Prepare the consolidated statement of financial position of H and of its subsidiary S as at 31
December 2021 where:
ii. NCI is measured at fair value where the fair value of S's shares on 1 January 2017 was
RM1.45 per share and on 31 December 2021 was RM1.80](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2837ee2c-b000-4376-af3d-8c1f27b8154f%2Fb0f230d4-18c1-420e-8b3d-3896ba86d887%2Fwvi0mv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 1
a) Given below are the statements of financial position of H and its subsidiary S as at 31
December 2021.
Ordinary shares of RM1.00 each
Share premium
Revaluation reserve
Retained profit
Liabilities
Inventory
Accounts receivable
H
RM
120,000 250,000
70,000 100,000
Fixed Assets - Land
300,000
Investment in S - 150,000 ordinary shares at cost 250,000
RM
Share premium 50,000
Revaluation reserve 15,000
Retained profit 20,000
S
RM
500,000 200,000
100,000
50,000
40,000
30,000
50,000 20,000
50,000 50,000
740,000 350,000
i. NCI is not measured at fair value.
H acquired 150,000 of the ordinary shares of S on 1 January 2017 when the balance in
S's accounts were:
740,000 350,000
Required:
Prepare the consolidated statement of financial position of H and of its subsidiary S as at 31
December 2021 where:
ii. NCI is measured at fair value where the fair value of S's shares on 1 January 2017 was
RM1.45 per share and on 31 December 2021 was RM1.80
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