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Prepare an extract of AJPB’s Statement of Profit or Loss and Statement of Financial Position at the end of 2017 and 2018 year

Prepare an extract of AJPB’s Statement of Profit or Loss and Statement of Financial Position at the end of 2017 and 2018 year

FINANCIAL ACCOUNTING
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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Aman Jaya Property Bhd (AJPB) is a medium size property developer company that is listed in the Bursa Malaysia. On 1 January 2017, APJB acquired 10,000 quoted shares of Selayang Manufacturing Berhad (SMB) at RM5 per share through cash. Transaction cost that AJPB incurred was RM1,000. The fair value of each of this share on 31 December 2017 was RM5.50. SMB shares were eventually sold for RM60,000 in October 2018.

On 31 December 2018, AJPB issued bonds for total consideration of RM12 million. AJPB incurred transaction cost for RM50,000. The face value of the bond is RM14 million.

 

Required:

  1. Prepare an extract of AJPB’s Statement of Profit or Loss and Statement of Financial Position at the end of 2017 and 2018 year

 

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