CONFIDENTIAL AC/FEB 2023/FAR320
UNIVERSITI TEKNOLOGI MARA
FINAL EXAMINATION
COURSE FINANCIAL ACCOUNTING 5
cOURSE cODE FAR320
EXAMINATION FEBRUARY 2023
TIME 3 HOURSS
INSTRUCTIONS TO CANDIDATESS
1. This question paper consists of five (5) questions.
2. Answer ALL questions in the Answer Booklet. Start each answer on a new page.
3. Do not bring any material into the examination room unless permission is given by the
invigilator.
A. Please check to make sure that this examination pack consists of:
i) the Question Paper
i) an Answer Booklet- provided by the Faculty
. Answer ALL questions in English.
DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO
This examination paper consists of 8 printed pages
Hak Cipta Universiti Teknologi MARA cONFIDENTIAL
, cONFIDENTIAL 2 AC/FEB 2023/FAR320
QUESTION 1
Charming Bhd acquired shares and debentures in Delightful Bhd on 1 January 2020. The
following were the Statements of Financial Position of Charming Bhd and Delightful Bhd as
at 31 December 2022.
Charming Bhd Delightful Bhd
RM RM
Non-current assets
Land 2,400,000 5,680,000
Plant and machinery (carrying amount) 2,200,000 1,200,000
Intangible asset (carrying amount) 1,200,0000 1,360,000
Investment in Delightful Bhd:
Ordinary shares 6,800,000
8% Preference share capital 200,000
9% Debentures 400,000
Current assets
Inventories 840,000 640,000
Accounts receivable 440,000 400,000
Bills receivable 320,000
Debenture interest receivable 36,000
Bank 594,000 248,000
15,110,000 9,848,000
Equity and reserve
Ordinary share capital 9,600,000 4,000,000
8% Preference share capital 1,000,000
General reserve 2,800,000 800,000
Retained profits 1,960,000 1,120,000
Non-current liabilities
9% Debentures 1,600,000
Current liabilities
Accounts payable 560,000 1,184,000
Bills payable 190,000
Debenture interest payable 144,000
15,110,000 9,848,000
Additional information:
1. Charming Bhd bought 3,000,000 ordinary shares out of 4,000,000 ordinary shares,
200,000 units of 8% Preference share capital at RM200,000 and RM400,000 99%
debentures in Delightul Bhd on 1 January 2020 when the balances in Delightful Bhd
were as follows:
RM
General reserve 480,000
Retained profits 160,000
Hak Cipta Universiti Teknologi MARA cONFIDENTIAL
UNIVERSITI TEKNOLOGI MARA
FINAL EXAMINATION
COURSE FINANCIAL ACCOUNTING 5
cOURSE cODE FAR320
EXAMINATION FEBRUARY 2023
TIME 3 HOURSS
INSTRUCTIONS TO CANDIDATESS
1. This question paper consists of five (5) questions.
2. Answer ALL questions in the Answer Booklet. Start each answer on a new page.
3. Do not bring any material into the examination room unless permission is given by the
invigilator.
A. Please check to make sure that this examination pack consists of:
i) the Question Paper
i) an Answer Booklet- provided by the Faculty
. Answer ALL questions in English.
DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO
This examination paper consists of 8 printed pages
Hak Cipta Universiti Teknologi MARA cONFIDENTIAL
, cONFIDENTIAL 2 AC/FEB 2023/FAR320
QUESTION 1
Charming Bhd acquired shares and debentures in Delightful Bhd on 1 January 2020. The
following were the Statements of Financial Position of Charming Bhd and Delightful Bhd as
at 31 December 2022.
Charming Bhd Delightful Bhd
RM RM
Non-current assets
Land 2,400,000 5,680,000
Plant and machinery (carrying amount) 2,200,000 1,200,000
Intangible asset (carrying amount) 1,200,0000 1,360,000
Investment in Delightful Bhd:
Ordinary shares 6,800,000
8% Preference share capital 200,000
9% Debentures 400,000
Current assets
Inventories 840,000 640,000
Accounts receivable 440,000 400,000
Bills receivable 320,000
Debenture interest receivable 36,000
Bank 594,000 248,000
15,110,000 9,848,000
Equity and reserve
Ordinary share capital 9,600,000 4,000,000
8% Preference share capital 1,000,000
General reserve 2,800,000 800,000
Retained profits 1,960,000 1,120,000
Non-current liabilities
9% Debentures 1,600,000
Current liabilities
Accounts payable 560,000 1,184,000
Bills payable 190,000
Debenture interest payable 144,000
15,110,000 9,848,000
Additional information:
1. Charming Bhd bought 3,000,000 ordinary shares out of 4,000,000 ordinary shares,
200,000 units of 8% Preference share capital at RM200,000 and RM400,000 99%
debentures in Delightul Bhd on 1 January 2020 when the balances in Delightful Bhd
were as follows:
RM
General reserve 480,000
Retained profits 160,000
Hak Cipta Universiti Teknologi MARA cONFIDENTIAL
