Non-Controlling Interest Assignment

382 Chapter 10 – 10.9 Given below are the statements of financial position of Eddie and Chong as at 31 December Equity and Liabilities Ordinary share capital Retained profit Liabilities Eddie RM 2,800,000 600,000 100,000 3,500,000 1820065 380388 $35 2,04006 2,200,000 1,000,000 1,84050

Assets Non-current assets Investment in 2 million ordinary shares of Chong at cost Current assets 300,000 3,500,000 200.000 2,040,00 Additional information: The issued share capital of Chong consists of 3 million ordinary shares. On 1 January x5, Eddie acquired the shy in Chong when the accumulated loss of Chong was RM60,000. The fair value of Chong's shares was 60 sen share on the acquisition date. Chong has not issued any shares in the last few years. You are required to prepare the consolidated statement of financial position as at 31 December x7. Assume i. Non-controlling interest is measured based on the net assets of the investee on the acquisition date. ii. Non-controlling interest is measured based on its fair value. .