ACC6063 Bintik Putih bought 30% of Arnie on 1 January 2020, when Arnie had a share capital of 100,000 RM1 shares: Advanced Accounting 2 Assignment, NTU, Singapore

Bintik Putih bought 30% of Arnie on 1 January 2020, when Arnie had a share capital of 100,000 RM1 shares and RM400,000 retained earnings The consideration comprised one Beasant share for every 3 shares bought in Arnie At the date of acquisition, Bintik Putih’s shares had a market value of RM4.50 arid Arnie’s had a market value of RM2 At 31 December 2020, Arnie’s net assets were RM460,000.

What is the value of an investment in associates shown in the consolidated statement of financial position as of 31 December 2020?
Select one:
0 A. RM8,000
0 B. RM63,000
O C. RM123,000
U D. RM33,000