Impairment losses of RM4 million were deemed to have arisen by 30 September 2021 in respect of goodwill of ST Berhad: Financial Accounting Case Study, UON, Malaysia
| University | University of Nottingham (UON) |
| Subject | Financial Accounting |
Financial Position:
- Impairment losses of RM4 million were deemed to have arisen by 30 September 2021 in respect of goodwill of ST Berhad. The impairment losses were classified under other expenses account.
- During the financial year ended 30 July 2021, ST Berhad had sold goods to GD
Berhad amounting to RM15,000,000. The profit margin is 20% on the selling price Of these goods, one-third remained in the closing inventory of GD Berhad n at the reporting date. - ST Berhad sold a piece of machinery to GD Berhad for RM10,000,000 on 1 October 2020. This equipment had a carrying value of RM4,000,000 prior to transfer. The gain on sale was shown as ‘other income’ in the books of ST Berhad. The equipment had a four-year useful economic life remaining at the date of transfer. The depreciation was classified under other expenses account.
- On 1 July 2021, ST Berhad declared a dividend of RM10,000,000 out of post-acquisition profits. GD Berhad recorded its share of dividend as ‘other income’.
- GD Berhad has a joint venture arrangement with FDS Berhad for CRS Sdn Bhd,
sharing of control with ownership of 50 percent by each party since the year 2016. During the year, CRS Sdn Bhd’s net profit after tax amounted to RM60,000,000. There are some year-end transactions not accounted in the CRS Sdn Bhd financial statements as follows:
Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.
Get Help By Expert
Need help with coursework? Our proficient expert writers at MalaysiaAssignmentHelp.com online coursework writing help in Malaysia are here to assist you. We have a bunch of master experts who can customize your Financial Accounting coursework solution according to your professor's requirement at a cheap price.
Answer
Recent Solved Questions
- BM 2614: Berhad who they are, what they do, where their presence is global, what are the fast-moving goods they manufacture and distribute, to name some: Principle of marketing Report, MMU, Malaysia
- LAW434: With reference to decided cases discuss the application of the doctrine of stare decisis in Malaysia: Malaysian Legal System Assignment, UITM, Malaysia
- What are the key problems in maintaining a competitive advantage in embryonic and growing industry environments: Strategic management Course Work, AUTI, Malaysia
- Currently, there are many entrepreneurs who are involved in e-commerce. Based on the success of e-commerce companies: Creativity and Innovation Essay, SU, Malaysia
- MAF201: In December 2016, ADAWI Constructions Bhd was awarded a contract to construct a sports complex near Bukit Meranek: Cost and management accounting Assignment, UITM, Malaysia
- MGT555: Lower values, on the other hand, correspond to data points gathering closer to it. The mean absolute deviation is also: Business Analytics Assignment, UiTM, Malaysia
- Deven and Sarita’s years have been married for the past 10 years. They have two children, Raju and Shanti: Financial Planning Case Study, APU, Malaysia
- Explain the dose-response relationship of all toxicants. Which one is more potent? Toxicant A or B: Toxicology Essay, UM, Malaysia
- ENT1100: Dropshipping is a fulfillment method where a store doesn’t keep the products it sells in stock: Entertainment Technology Course Work, NYCCT, Malaysia
- Your critical thinking on the comparison of the methane and carbon dioxide from landfills in Indonesia: Air Pollution Engineering Report, SU, Malaysia
