Syd Ltd acquired all the issued shares ( Cum-div. ) of Mel Ltd on 1 July 2021. At this date the financial position of Matt Ltd was as follows: Carrying Amount Fair Value Plant $300 000 280 000...

Syd Ltd acquired all the issued shares (
Cum-div.
) of Mel Ltd on 1 July 2021. At this date the financial position of Matt Ltd was as follows:

Additional information:

The assets of Mel Ltd did not include a patent that was valued by Robert Ltd at $12 000. Its useful life was considered to be 5 years, with benefits being received equally over that period.

The plant was considered to have a further 10-year life and is depreciated on a straight-line basis.

All the pre-acquisition inventories were
not
sold
by 30 June 2019.

An interim dividend of $10,000 paid by Mel Ltd in September 2020.

Syd Ltd declared a final dividend of $20 000 in June 2020.

In exchange for the shares in Mel Ltd, Syd Ltd gave the following consideration:

• 80 000 shares in Robert Ltd, each share having a fair value of $3.50 per share


• cash of $44 000


• Artwork having a fair value of $35 000.

Robert Ltd incurred legal and accounting costs of $4 500 and share issue costs of $3 000.

The tax rate is 30%.

Required:

1. Prepare Acquisition Analysis at 1 July 2020.


2. Prepare the consolidation worksheet entries for consolidated financial statements prepared by Syd Ltd at 30 June 2021.


3. Prepare the acquisition analysis at 1 July 2020 if Syd Ltd acquired the issued share of Mel Ltd on
   
   Ex-div
   
   
   basis.