On 1 January 2007, KL Berhad acquired 90% of the ordinary voting shares (RM1.00 par value) of PJ Berhad with the issue of 162,000 of its ordinary voting shares (RM1.00 par value). The market value of KL Berhad on the dates of combination was RM2.00 per share. The balance sheets of the two companies immediately before the combination are as follows: KL Bhd PJ Bhd RM'000 RM'000 450,000 (50,000) 100,000 500,000 350,000 (25,000) 80,000 405,000 Non-current assets Accumulated depreciation Current assets 50,000 35,500 180,000 39,500 100,000 405,000 65,000 50,000 200,000 Non-current liabilities Current liabilities Share capital Share premium Retained earnings 185,000 500,000 Required: Prepare the consolidated balance sheet.

On 1 January 2007, KL Berhad acquired 90% of the ordinary voting shares (RM1.00 par value) of PJ Berhad with the issue of 162,000 of its ordinary voting shares (RM1.00 par value). The market value of KL Berhad on the dates of combination was RM2.00 per share. The balance sheets of the two companies immediately before the combination are as follows: KL Bhd PJ Bhd RM'000 RM'000 450,000 (50,000) 100,000 500,000 350,000 (25,000) 80,000 405,000 Non-current assets Accumulated depreciation Current assets 50,000 35,500 180,000 39,500 100,000 405,000 65,000 50,000 200,000 Non-current liabilities Current liabilities Share capital Share premium Retained earnings 185,000 500,000 Required: Prepare the consolidated balance sheet.

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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