FAR320 Given below are the statements of the financial position of King Bhd and Prince Bhd as at 30 June 2020: HOMEWORK SPECIAL BREAK, UiTM, Malaysia

University Universiti Teknologi MARA (UiTM)
Subject HOMEWORK SPECIAL BREAK

Given below are the statements of the financial position of King Bhd and Prince Bhd as at 30 June 2020

Given below are the statements of financial position of King Bhd and Prince Bhd as at 30 June
2020:

Required:
a) Calculate goodwill or bargain purchase on business combination.
b) Show the consolidation journal entries.
c) Prepare a schedule showing the analysis of the group retained profit, non-controlling interest and other reserves as at 30 June 2020.
d) Prepare Consolidated Statement of Financial Position of King Bhd and its subsidiary, Prince Bhd as at 30 June 2020 (Show all workings and round up to the nearest RM).
e) Assuming Prince Bhd declared a 10% ordinary dividend for the year ended 30 June 2020 and both Prince Bhd and King Bhd have not recorded the transaction. Prepare journal entries to affect the above transaction in the Consolidated Statement of Financial Position.

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