Calculate the group profit and loss, Cost Accounting

Using the chosen company from Bursa Malaysia, prepare a consolidated accounts assuming that the chosen company acquire Sure Cargo Behard at 80% of its ordinary shares.

Given below is the balance sheet of Sure Cargo Berhad for the year ended December 2010.

 

RM

Non Current Assets

200,000

Inventory

20,000

Receivables

15,000

Bank

2,000

 

237,000

 

 

Ordinary Shares of RM 1 each

100,000

Retained Profit

55,000

Trade Payables

55,000

Ordinary Dividend Payable

27,000

 

237,000

Additional Information:

a. Sure Cargo Behard was acquired on 1 January 2008 when the retain profit were RM40,000.

b. Goodwill on consolidation is impaired by 40%.

Required:

i. Show the calculation of goodwill

ii. Calculate the group profit and loss.

iii. Prepare the consolidated Balance Sheet as at 31 December 2010

 

Posted Date: 2/21/2013 3:14:49 AM | Location : United States







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