Question 19 8 Business Combination Valuation Entries Pre Acquisition Entries Sub

•Artworks having a fair value of $60 000.

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%.


Prepare the consolidation worksheet entries for consolidated financial statements prepared by Robert Ltd at 30 June 2020.

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