Aap Tutorial 06 Q1

H (May)

S (Park)

Ordinary Shares

(135,000/150,000 (15,000/150,000) ) x 100% = 90% x 100% = 10%

Redeemable Preference Shares

(30,000/100,000) x 100% = 30%

10% Debentures

(45,000/100,000) x 100% = 45%

-

O (70,000/100,000 ) x 100% = 70% (55,000/100,000 ) x 100% = 55%

H

S

Preference Dividend

-

RM10,000

Debenture Interest

-

(100,000 x 10%) x 0.5 = RM5, 000

H

Mi

Others

Preference Dividend

10,000 x 30% = RM3,000

10,000 x 70% = RM7,000

Debenture Interest

5,000 x 45% = RM2,250

5,000 x 55% = RM2,750

Debenture Interest

DEBIT

Profit and Loss of S

RM5,000

CREDIT

Consolidated Profit and Loss

RM2,250

Debenture Interest Payable

RM2,750

Asset Revaluation Reserve

DEBIT

Intangible Asset

RM40,000

CREDIT

Cost of Control (90% X 40k)

RM36,000

Minority Interest (10% x 40K)

RM4,000

Amortization (40K/4 )

DEBIT

Profit and Loss of S

RM10,000

Intangible Asset

CREDIT RM10,000

Preference Shares Dividends

DEBIT

Profit and Loss of S

RM10,000

CREDIT

Preference Dividends Payable

RM7,000

Consolidated Profit and Loss

RM3,000

Cost of Control (90%) Investment in S: Ord. Shares (135+99)

Ord. Shares 234,000 S. Premium (80k x 90%)

135,00 0 72,000

Pref. Shares

30,000 Pref. Shares

30,000

10% Debentures

45,000 Debentures

45,000

Goodwill (Negative)

36,000 Acc. Profit (30k x 90%)

27,000

ARR (40k x 90%) 345,000

36,000 345,00 0

Goodwill Consolidated Profit and Loss

36,000 Cost of Control

36,000

36,000

36,000

Profit and Loss of S Amortization Debenture Interest Pref. Shares Div. Payable Balance c/d

10,000 Balance b/d (50k+30K)

80,000

5,000 10,000 55,000 80,000

80,000

Cost of Control

27,000 Balance b/d

55,000

Consolidated Profit and Loss ({55k-30k}x90%)

22,500

Minority Interest (55k x 10%)

5,500 55,000

55,000

Minority Interest CBS

32,500 Ord. Shares

15,000

S. Premium (80K x 10%)

8,000

Acc. Profit

5,500

ARR

4,000

32,500

32,500

Consolidated Profit and Loss CBS

153,750 Balance b/d (50k + 40K)

153,750

90,000

Debenture Interest

2,250

Pref. Shares Div. Payable Acc. Profit of S

3,000 22,500

Goodwill (Negative)

36,000 153,75 0

RM Intangible Assets Less: Amortization

RM 40,000 (10,000) 30,000

Sundry Assets (680k + 510k)

1,190,00 0 1,220,00 0

RM

RM

Ord. Shares of RM1 each (700k + 33k)

733,000

Share Premium (100k + 66k)

166,000

Accumulated Profit

153,750

Minority Interest Redeemable Pref. Shares of RM1 each (100k – 30k) 10% Debenture (100k – 45k)

1,052,75 0 32,500

1,085,25 0

70,000 55,000

Preference Shares Dividends Payable

7,000

Debenture Interest

2,750

134,750 1,220,00 0

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