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QUESTION
Question 19.8 Business combination valuation entries, pre-acquisition entries subsequent to acquisition LO5Robert Ltd acquired all the issued shares...
•Artworks having a fair value of $60 000.
Show more Robert Ltd incurred legal and accounting costs of $5000 and share issue costs of $4000.
In January 2019, Matt Ltd paid a bonus dividend of $40 000, being one share for every three shares held, the dividend being paid from retained earnings on hand at 1 July 2015.
The tax rate is 30%.
Required
Prepare the consolidation worksheet entries for consolidated financial statements prepared by Robert Ltd at 30 June 2020.
