Please answer complete Question 3The statement of financial position of Dana Bhd as at 31 December 2021.RM'000Research and development120,000Furniture and fixtures640,000Motor vehicles100,000Inventories50,000Trade receivables30,000Prepayments10.000950,000500,000 ordinary shares1,000,000Accumulated losses(200,000)10% Debentures100,000Trade payables50.000950,000Dana Berhad had been incurring trading losses for a number of years and was unable to pay dividends for anumber of years. The company decided to undertake a scheme of capital reduction.The company passed a special resolution and the approval of the court was obtained to the following schemeof reconstruction:1. The ordinary shares are to be reduced to 1.25 sen per share, fully paid up.2. Assets are revalued to the following values.RM'000Furniture and fixtures620,000Motor vehicles65.000Inventories50,0003. Research and development are to be written off.4. The accumulated losses and all intangibles assert are to be written off.Required:(a) Prepare the Capital Reduction T-Account.(b) Prepare the Statement of Financial Position of Dana Bhd after the Re-organization.

A company adopts capital reduction scheme when it is incurring huge losses and has ficticious assets…

Answered: Question 3 The statement of financial…

Question 3 The statement of financial position of Dana Bhd as at 31 December 2021. RM'000 Research and development 120,000 Furniture and fixtures 640,000 Metor vehiclos 100 00

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

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 17E

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