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FAC2602-26-S1
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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), 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. Madden Limited’s retained earnings on 01 April 2024 were R1 800 000.
Additional Information
a) On 31 December 2024, Madden Limited declared an ordinary dividend of R100 000 to its shareholders.
b) The financial year end for the group is 31 December 2024.
In an acquisition of ordinary share capital of another company, assuming voting rights determines control, control is achieved through…
Quin Ltd obtained interest in ordinary shares of Kent Ltd on 31 July 2023 when the issued shares of Kent Ltd amounted to 90 000 shares and Quin Ltd were 200 000 shares. Kent Ltd is wholly owned by Quin Ltd. The percentage of controlling interest held in Kent Ltd is -----------------------
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), 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. 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. Mudiwa Ltd 's retained earnings before Dividend amounted to R275 000.
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 is the retained earnings amount of Mudiwa Group Ltd at 31 December 2025? Assume the profit for the year of Rudo Ltd from 1 August 2025 amounts to R50 000.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), 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. 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
REQUIRED:
How much of the subsidiary’s total profit for 2024 is attributable to the pre-acquisition period?
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), 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. 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.
REQUIRED:How much of the post-acquisition profit is attributable to Stratton Limited?Which of the following best describes the type of group formed by Kholiswa Ltd and Elsie Ltd, based on Kholiswa's 75% shareholding?