Page 77 - PowerPoint Presentation

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

Calculations

Comment

• Preference dividend

• The preference dividend paid of R7 200 up to 30 June

20.12 relates to a dividend for the year ended 31

December 20.11 amounting to R4 800 (R40 000 x 12%).

This amount has to be accrued for at acquisition, since

the preference shares are cumulative.

• The remaining R2 400 (R7 200 – R4 800 or R40 000 x
12% x 6/12) relates to the six month period ended 30

June 20.12.

• An amount of R2 400 must thus still be accrued for the

last six months, refer to [C3].

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