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pls do it asap Question 1 (35 Marks) On 1 January...

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Accounting

pls do it asap
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Question 1 (35 Marks) On 1 January 2020, Penghen Bhd acquired a 100% interest in Samyam Sdn Bhd paying RM500,000 in cash and the balance by issuing 200,000 Penheng Bhd RMI ordinary shares with a market value of RM2.50. The respective balance sheets of the two companies prior to the acquisition on that date were as follows: 300 200 Penghen Bhd Samyam Sdn Bhd Share Capital of RM 1 Each 1000 400 Retained profits 600 200 Long term liabilities Current liabilities 100 100 2,000 900 Current assets Property Plant and equipment 1000 400 property 300 200 Plant and machinery 700 300 2,000 900 In arriving at the purchase consideration, the buyer and seller took into account the following items: 1. The fair value of Samyam Sdn Bhd's properties was RM500,000 2. Samyam Sdn Bhd Owned patents and licenses worth RM200,000 Required: a) Calculate the goodwill on the acquisition date. (7 Marks) b) Record the journal entries for the effect of consolidated adjustment. (4 Marks) c) Prepare the consolidated financial position of Penheng Bhd after the acquisition of shares in samyam Bhd. (21 Marks) d) Discuss how does MFRS 10 explain the meaning of control' in a business combination

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