QQ 14. Kelly Ltd acquired 70 per cent of the share capital of Slater Ltd on 1 July 2022 for a cost of $300 000. At the date of acquisition all assets were fairly valued, and the balance of share capital and reserves was as follows: Share capital Retained earnings Revaluation surplus $ 180 000 50 000 60 000 290 000 On 15 August 2022 Slater Ltd paid a $50 000 dividend out of pre-acquisition earnings to all shareholders that held shares at 10 July 2022. Non-controlling interest in the acquiree is measured at fair value. REQUIRED Using the above information, prepare the consolidation adjustments and eliminations required for the year ended 30 June 2023. LO 27.3, 27.4.. 15. Layne Itd acquired Page
QQ 14. Kelly Ltd acquired 70 per cent of the share capital of Slater Ltd on 1 July 2022 for a cost of $300 000. At the date of acquisition all assets were fairly valued, and the balance of share capital and reserves was as follows: Share capital Retained earnings Revaluation surplus $ 180 000 50 000 60 000 290 000 On 15 August 2022 Slater Ltd paid a $50 000 dividend out of pre-acquisition earnings to all shareholders that held shares at 10 July 2022. Non-controlling interest in the acquiree is measured at fair value. REQUIRED Using the above information, prepare the consolidation adjustments and eliminations required for the year ended 30 June 2023. LO 27.3, 27.4.. 15. Layne Itd acquired Page
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help for question 14.
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14. Kelly Ltd acquired 70 per cent of the share capital of Slater Ltd on 1 July 2022 for a cost of $300 000. At the date of
acquisition all assets were fairly valued, and the balance of share capital and reserves was as follows:
Share capital
Retained earnings
Revaluation surplus
$
180 000
50 000
60 000
290 000
On 15 August 2022 Slater Ltd paid a $50 000 dividend out of pre-acquisition earnings to all shareholders that held
shares at 10 July 2022. Non-controlling interest in the acquiree is measured at fair value.
REQUIRED Using the above information, prepare the consolidation adjustments and eliminations required for the
year ended 30 June 2023. LO 27.3, 27.4..
15. Layne Ltd acquired 90 per cent of the share capital of Beachly I td on 1
date of acquisition all
Settings.
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