Prepare the balance sheet, Cost Accounting

High Bhd acquired shares in two other companies as follows:

1506_Prepare the consolidated balance sheet1.png

1710_Prepare the consolidated balance sheet2.png

Additional information:

i) Goodwill on acquisition of Swift was impaired by RM80,000 as at 31 October 2009 and is to be written off as an expense.

ii) On 1 October 2009 Swift sold goods to High at a margin of 20%. These goods had a sales value of RM200,000. As at 31 October 2009, High still held RM140,000 of these goods in stocks.

iii) High has not yet accounted for any dividends receivable from Swift or Arthur. The dividends from Arthur all relate to the post-acquisition period.

iv) High requires Arthur to bring its depreciation methods in line with the group accounting policies. The directors have estimated that this would reduce the profit of Arthur for the year ended 31 October 2009 by RM100,000. Ignore any effect on the taxation charge.

v) The retained profit brought forward at 1 November 2008 for the three companies was:


a) Calculate the goodwill on acquisition of Swift and Arthur.

b) Prepare the Consolidated income statement of the group for the year ended 31 October 2009.

c) Prepare the consolidated statement of reserves of the group for the year ended 31 October 2009.

Posted Date: 3/8/2013 12:56:49 AM | Location : United States

Related Discussions:- Prepare the balance sheet, Assignment Help, Ask Question on Prepare the balance sheet, Get Answer, Expert's Help, Prepare the balance sheet Discussions

Write discussion on Prepare the balance sheet
Your posts are moderated
Related Questions

what is overhead cost classfication of cost overhead

Total Variable Overheads Variances  If Variable Overhead Expenditure Variance =  Shs.1, 330 Variable Overhead Efficiency Variance = Shs.320 Then total variable overheads

Determine Profit by Using Absorption Costing Assuming the fixed overhead absorption rate was Ksh.3 per litre, then what would be the profit utilizing absorption costing? a)

We've all experienced (or heard about) the challenges that the airlines have been facing. Read the Zacks Investment Research article, "Airline Industry Stock Outlook - August 2012"

How many pounds of guava puree are required? a. In a month? b. How many in a year? In computing the Total Landed cost for mango concentrate, we are interested in the incre

behavioral aspect of standard costing

material ledger card.following transactions affecting material No115-8 occurred during march 1992. march 1 balanced on hand 500 gallons@Rs.20 per gallon maech 2 received 1200 gall

Definitions of manufacturing concepts  Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:  Materials and supplies used

Daisy Ltd has a net profit after tax of $3 400 000 for the year ending 30 June 2012.  For the entire financial year Daisy Ltd had two million $1.00 cumulative preference shares on