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PRE AND POST ACQUISITION DIVIDENDS On 1 July 2023, Gordon Ltd acquired all the issued shares (cum div.) of Henry Ltd for $528000. At that
PRE AND POST ACQUISITION DIVIDENDS On 1 July 2023, Gordon Ltd acquired all the issued shares (cum div.) of Henry Ltd for $528000. At that date, the financial statements of Henry Ltd showed the following information. 220000 110000 Share capital General reserve Retained earnings Dividend payable 154000 44000 All the assets and liabilities of Gordon Ltd were recorded at amounts equal to their fair values at the acquisition date. The dividend payable reported at 1 July 2023 by Henry Ltd was paid on 15 August 2023. Henry Ltd paid a further dividend of $55000 on 2 February 2024 from post-acquisition profits. Question 1 (3 points) 1. Prepare the acquisition analysis at 1 July 2023
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