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Illustration of Pre-Aquisition
H Ltd.. Acquired 80% of S Ltd. during the year ended 31/12/04. S Ltd. paid an interim dividend of 40,000 on 30th September and as at 31/12/04 has proposed a dividend of 60,000.Required:Compute the pre-acquisition dividend to cost of control assuming that H Ltd. acquired S Ltd. on the following dates;i) 1st July, 2004, ii) 1st October, 2004 – H did not receive share of interim dividend.
1/7/2004
1/10/2004
£
Total dividends
: Paid
40,000
Proposed
60,000
100,000
Post acquisition dividends
(6/12 x 100,000)
50,000
25,000
Pre-acquisition dividend to cost of control
Holding company share of dividend:
Interim receive (80/100 x 40,000)
32,000
Interim proposed (80/100x 60,000)
48,000
80,000
Less: Holding company share of post acquisition of dividends
(80/100 x 50,000)
(20,000)
28,000
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