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  • Detail RM RM Consideration Paid

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    Muhammad Syamil Zikri Ismayuddin
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    1) Adam and Haris acquired Adhar Printing Sdn Bhd for RM282,000 consisting of RM220,000 for 200,000 ordinary shares, RM60,000 for 60,000 preference shares, and RM2,000 in liquidation expenses. 2) The fair values of Adhar's net assets taken over included machinery and equipment of RM115,000, furniture and fittings of RM44,000, inventories of RM79,000, trade receivables of RM29,500, and bank balance of RM45,200, with account payables of RM70,700. 3) Goodwill of RM40,000 arose from the acquisition. Financial statements including statements of

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    financial accounting

    Original Title

    Q3 FA5

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    1) Adam and Haris acquired Adhar Printing Sdn Bhd for RM282,000 consisting of RM220,000 for 200,000 ordinary shares, RM60,000 for 60,000 preference shares, and RM2,000 in liquidation expenses. 2) The fair values of Adhar's net assets taken over included machinery and equipment of RM115,000, furniture and fittings of RM44,000, inventories of RM79,000, trade receivables of RM29,500, and bank balance of RM45,200, with account payables of RM70,700. 3) Goodwill of RM40,000 arose from the acquisition. Financial statements including statements of

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    © All Rights Reserved
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    25 views3 pages

    Detail RM RM Consideration Paid

    Uploaded by

    Muhammad Syamil Zikri Ismayuddin
    1) Adam and Haris acquired Adhar Printing Sdn Bhd for RM282,000 consisting of RM220,000 for 200,000 ordinary shares, RM60,000 for 60,000 preference shares, and RM2,000 in liquidation expenses. 2) The fair values of Adhar's net assets taken over included machinery and equipment of RM115,000, furniture and fittings of RM44,000, inventories of RM79,000, trade receivables of RM29,500, and bank balance of RM45,200, with account payables of RM70,700. 3) Goodwill of RM40,000 arose from the acquisition. Financial statements including statements of

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    © All Rights Reserved
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    of 3

    Question 3 (Adam and Haris)

    Detail RM RM
    Consideration paid
    200,000 Ordinary shares 220,00
    60,000 5% Preference shares 60,000
    Add: Liquidation expenses 2,000 282,000
    Less: Fair value of net assets taken over
    Machine and equipment 115,000
    Furniture and fittings 44,000
    Inventories 79,000
    Trade receivable 29,500
    Bank 45,200

    Less: Account Payable (70,700)


    (242,000)
    Goodwill 40,000

    Machine and Equipment

    Detail RM Detail RM
    Balance b/d 120,000 Realisation 120,000
    120,000 120,000

    Furniture and fittings

    Detail RM Detail RM
    Balance b/d 46,000 Realisation 46,000
    46,000 46,000

    Inventories

    Detail RM Detail RM
    Balance b/d 82,000 Realisation 82,000
    82,000 82,000

    Account receivable

    Detail RM Detail RM
    Balance b/d 31,000 Realisation 31,000
    31,000 31,000

    Bank

    Detail RM Detail RM
    Balance b/d 45,200 Realisation 45,200
    45,200 45,200
    Account Payable

    Detail RM Detail RM
    Realisation 70,700 Balance b/d 70,700
    70,700 70,700

    Motor Vehicle

    Detail RM Detail RM
    Balance b/d 55,000 Adam – current account 52,000
    Realisation 3,000
    55,000 55,000

    Adhar Printing Sdn Bhd

    Detail RM Detail RM
    Realisation 280,000 Ordinary share 220,000
    Preference share 60,000
    280,000 280,000

    Realisation Account

    Detail RM Detail RM
    Machine and equipment 120,000 Trade payable 70,700
    Motor vehicle 3,000 Adhar Printing 280,000
    Furniture and fitting 46,000
    Inventories 82,000
    Trade receivable 31,000
    Bank 45,200
    Capital: Adam 26,750
    Capital: Haris 26,750

    350,700 350,700

    Partner’s Capital Account

    Detail (Adam) (Haris) Detail (Adam) (Haris)


    RM RM RM RM
    Ordinary share 110,00 110,000 Balance b/d 150,000 150,000
    0
    Preference share 30,000 30,000 Current account 9,700 (1,200)
    Bank (5,550) 35,550 Realisation 26,750 26,750
    Motor vehicle 52,000
    186,45 175,550 186,450 175,550
    0
    Statement of Financial Position as at Immediately after the Conversion

    Detail RM RM
    Non-Current Asset
    Machine and equipment 115,000
    Furniture and fittings 44,000
    Goodwill 40,000
    Formation expenses 3,800
    202,800

    Current Asset
    Trade receivable 29,500
    Inventories 79,000
    Bank 59,400 167,900
    370,700
    Equities and Liabilities
    Ordinary share 240,000
    Preference share 60,000

    Current liabilities
    Trade payable 70,700
    370,700

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