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FAC2602-26-S1
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On 1 August 2025, Mudiwa Ltd acquired 80% of the ordinary shares in Rudo Ltd for R600,000. The financial year-end for both companies is 31 December 2025.
The equity of Rudo Ltd on 1 January 2025 (start of the year) was as follows:
- Share capital: R300 000
- Retained earnings: R180 000
- Revaluation surplus: R40 000
On 1 August 2025 (acquisition date), a fair value adjustment was made to increase the value of land by R50 000. This adjustment has not been recorded in Rudo Ltd’s accounting records.
For the year ended 31 December 2025, Rudo Ltd reported a profit after tax of R120 000, which is assumed to have been earned evenly throughout the year.
Both companies declared and paid dividends during the year.
- Mudiwa Ltd declared dividends of R50 000.
Rudo Ltd declared dividends of R30 000 on 30 November 2025, after
the acquisition.
Assume no goodwill impairment and each ordinary share carries equal voting rights.
On 01 April 2024, Stratton Limited. acquires 60% of the equity of Madden Limited for R2 400 000. On 01 January 2024, the fair value of Madden Limited’s net assets was R3 200 000. The remaining 40% is held by external shareholders, representing the non-controlling Interest (NCI), which is measured at fair value.
Madden Limited. reported a profit for the year of R900 000 for the year ended 31 December 2024, which was earned evenly throughout the year.
Additional Information
a) On 31 December 2024, Madden Limited paid an ordinary dividend of R100,000 to its shareholders.
b) The financial year end for the group is 31 December 2024.
On 01 April 2024, Stratton Limited. acquires 60% of the share capital of Madden Limited for R2 400 000. On 01 January 2024 , the fair value of Madden Limited’s net assets was R3 200 000. The remaining 40% is held by external shareholders, representing the non-controlling Interest (NCI).
Madden Limited. reported a profit for the year of R900 000 for the year ended 31 December 2024, which was earned evenly throughout the year. Madden Limited’s retained earnings on 01 April 2024 were R1 800 000.
Additional Information
a) On 31 December 2024, Madden Limited paid an ordinary dividend of R100 000 to its shareholders.
b) The financial year end for the group is 31 December 2024.
On 1 August 2025, Mudiwa Ltd acquired 80% of the ordinary shares in Rudo Ltd for R600,000. The financial year-end for both companies is 31 December 2025.
The equity of Rudo Ltd on 1 January 2025 (start of the year) was as follows:
- Share capital: R300 000
- Retained earnings: R180 000
- Revaluation surplus: R40 000
On 1 August 2025 (acquisition date), a fair value adjustment was made to increase the value of land by R50 000. This adjustment has not been recorded in Rudo Ltd’s accounting records.
For the year ended 31 December 2025, Rudo Ltd reported a profit after tax of R120 000, which is assumed to have been earned evenly throughout the year.
Both companies declared and paid dividends during the year.
- Mudiwa Ltd declared dividend of R50 000.
Rudo Ltd declared dividend of R30 000 on 30 November 2025, after
the acquisition.
Assume goodwill was not impaired and each ordinary share carries one voting right.
REQUIRED:
How will the dividend declared by Rudo Ltd after acquisition to Mudiwa Ltd be treated consolidation?Tree Ltd presented the following analysis of equity for preparation of group consolidated financial statements with Leaf Ltd on 30 July 2024.
|
Total
|
Tree Ltd 60%
|
Non-controlling
Interests (NCI)
| |
At
|
Since acquisition
| |||
Share capital
|
140 000
|
84 000
|
|
56 000
|
Retained earnings
|
60 000
|
36 000
|
|
24 000
|
equity presented by Goodwill
|
200 000
10 000
|
120 000
10 000
|
|
80 000
-
|
Consideration paid
|
210 000
|
130 000
|
|
80 000
|
The analysis indicates that______________________
The amount of equity in subsidiary attributable to NCI at acquisition date is eliminated in the equity section of the group financial statements.
Select the statement that is correct in the options below:
To obtain control of another company, the acquiring company must……