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FAC2602-26-S1
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Thulare Ltd acquired interest in Mahlaku Ltd on 31 May 2024. The issued ordinary shares of Mahlaku Ltd reflected 180 000 issued shares on this date. Thulare Ltd only invested in 162 000 shares.
Crop Ltd presented the following analysis of equity for preparation of group consolidated financial statements with Dollar Ltd on 30 August 2024
|
Total
|
At
|
Since acquisition
|
Share capital
|
130 000
|
130 000
|
-
|
Retained earnings
|
50 000
|
50 000
|
-
|
Equity presented by Goodwill
|
180 000
|
180 000
|
-
|
Consideration paid
|
180 000
|
180 000
|
-
|
The analysis indicates that the acquisition of Dollar Ltd was made at _______________
An investor has control over the subsidiary when……………….
Provide the total amount of equity in the consolidated financial statement of the Pure Ltd Group at the end of 28 February 2024.
Pure Ltd acquired shares of 100% in Crack Ltd for R750 000 at the end of 2024. Both companies-maintained share capital of R200 000. The retained earnings amounted to R50 000 for Pure Ltd and R31 000 for Crack Ltd at the end of 28 February 2024.
Consider that Conol Ltd acquired 60% interest in Grams Ltd on 1 April 2023. Conol Ltd reflected profit for the year of R120 000 plus retained earnings of R115 000 at beginning for the year ending 31 March 2024. Grams Ltd ‘s retained earnings amounted to R90 000 at acquisition date. The profit for year of Grams Ltd amounts to R75 000 for 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), Land was fair value adjusted to R 275 000 from R225 00. 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 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.
REQUIRED:
How much of Rudo Ltd's R30 000 dividends is eliminated?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.
REQUIRED:
What portion of Rudo Ltd's pre-acquisition reserves is included in consolidated retained earnings?What is the total revenue in the consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 2026?
What is the total cost of sales in the Consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 2026?