60.1K

Verified Solution

Link Copied!

31 December nepozon of Sing and Dance 112 o wh Sing RM 000 2.000 Equity 2000.00 Od Non-current liabilities 120 Current liabilities Current account - Sing 130 2.750 Tode payable 860 1.100 150 Non-current assets Investment in Dance at cost 720.000 ordinary shares RM 150.000 12 percent debentures Research and development Current assets Inventories Trade recevables Current account - Dance Bank 35 195 2.750 Additional information: Sng bought the shares and debentures in Dance on 1 January 3 when the retained profit of Dance RM300,000. In order to determine the price to be paid for the shares of Dance, the assets of an revued Dance had an unrecognised intangible asset brand which had a fair value of RM100,000 estimated the economic life of the brand to be five years. On the date of acquisition, the non-controlling interest had a fair value of RM122,000. The research and development in Dance had a carrying value of RM600.000 on 1 January 3 uan a RM50,000 per annum. The group amortises research and development at 10 percent per straight-line best d The difference in the current accounts is due to inventories (at cost) sent by Sing to Dance Induded in the trade recevables of Sing is RM20,000 due from Dance. However, Dance on account of this debt on 31 December 24, which was only received by Sing on Required From the normation given, you are required to pre ven you are required to prepare the consolidated statement o 31 December 4 600,000 on 1 January 3. Dance amon af 10 percent per annum Sing to Dance which is still ver, Dance has remited RMS received by Sing on 1 January 25. alement of financial position 31 December nepozon of Sing and Dance 112 o wh Sing RM 000 2.000 Equity 2000.00 Od Non-current liabilities 120 Current liabilities Current account - Sing 130 2.750 Tode payable 860 1.100 150 Non-current assets Investment in Dance at cost 720.000 ordinary shares RM 150.000 12 percent debentures Research and development Current assets Inventories Trade recevables Current account - Dance Bank 35 195 2.750 Additional information: Sng bought the shares and debentures in Dance on 1 January 3 when the retained profit of Dance RM300,000. In order to determine the price to be paid for the shares of Dance, the assets of an revued Dance had an unrecognised intangible asset brand which had a fair value of RM100,000 estimated the economic life of the brand to be five years. On the date of acquisition, the non-controlling interest had a fair value of RM122,000. The research and development in Dance had a carrying value of RM600.000 on 1 January 3 uan a RM50,000 per annum. The group amortises research and development at 10 percent per straight-line best d The difference in the current accounts is due to inventories (at cost) sent by Sing to Dance Induded in the trade recevables of Sing is RM20,000 due from Dance. However, Dance on account of this debt on 31 December 24, which was only received by Sing on Required From the normation given, you are required to pre ven you are required to prepare the consolidated statement o 31 December 4 600,000 on 1 January 3. Dance amon af 10 percent per annum Sing to Dance which is still ver, Dance has remited RMS received by Sing on 1 January 25. alement of financial position

Answer & Explanation Solved by verified expert

See Answer