Financial Accounting and Reporting Assignment, SU, Malaysia Perkasa Bhd., a public company listed in the MAIN market of Bursa Malaysia, issued and paid-up capital at the beginning

University Sunway University (SU)
Subject Financial Accounting and Reporting

Perkasa Bhd., a public company listed in the MAIN market of Bursa Malaysia, issued and paid-up capital at the beginning of the year consisting of 40,000,000 ordinary shares for RM50,000,000 and 5,000,000 8% preference shares for RM5,000,000.  Its Retained profit at RM17,800,000 and General reserves for RM2,500,000.

After its mid-year report was prepared, the board of directors proposed the payment of interim dividend as follows:

Financial Accounting and Reporting

There is a plan to propose a final dividend if the financial condition of the company can substantiate that.

At the beginning of the year, Perkasa Bhd acquired the ordinary shares of Amore Bhd for RM12,640,000.  This requires Perkasa Bhd to prepare consolidated financial statements of the group.  Both companies adopt the same financial year.

Functional and presentation currency for the financial statements are presented in Ringgit Malaysia (“RM”).  The basis of measurement is the historical cost basis.

Patents and trademarks, which have finite useful lives are amortized from the date that they are available for use. Amortization is based on the cost of an asset less its residual value.  Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets. The estimated useful life of Patents and trademarks is 10 years.

Equity instruments classified as equity are measured at cost on initial recognition and are not remeasured subsequently. (i) Issue expenses Cost directly attributable to the issue of instruments classified as equity are recognized as a deduction from equity.  The ordinary shares are classified as equity.

The valuation of the investment at the end of the year gave the followings: –

  • The market value of Quoted Investment is RM14,890,000
  • Directors’ Valuation of the Un-Quoted Investment RM2,580,230

Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.

Get Help By Expert

Are you facing challenges with your university assignments at Sunway University? Look no further than AssignmentHelper.my! We specialize in providing top-notch assistance for a wide range of topics, including Financial Accounting and Reporting assignments. Whether you need support with TMA, individual assignments, or group projects, our online assignment helpers in Malaysia are here to guide you through the process. We're particularly skilled in aiding students with complex subjects like Financial Accounting and Reporting, tailored specifically for courses at SU. As a bonus, we also extend our expertise to Nursing assignments and more. Trust the best MBA assignment helper in Malaysia and excel in your academic journey with AssignmentHelper.my.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

70841+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

BIO150 Metabolism And Cell Division UITM Assignment Sample Malaysia
BIO150 - Metabolism and Cell Division is an introductory course in biology designed to familiarize students with the fundamental concepts and principles of biology. The BIO150 course provides a comprehensive…
Science
ECM651 Performance Evaluation Of Communications Networks UITM Assignment Sample, Malaysia
The ECM651 course at UiTM in Malaysia focuses on the evaluation of communication networks. It delves into topics such as Queuing Models, Advanced Loss Systems, Multi-Dimensional Loss Systems, Network Analysis,…
Engineering

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now