Wellcom group limited held a 50 shareholding in

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Unformatted text preview: ntly controlled entity: The jointly controlled entity referred to above is iPrint Corporate Pty Ltd. Wellcom Group Limited held a 50% shareholding in iPrint Corporate Pty Ltd from 1 July 2010 to 30 June 2011. On 30 June 2011 the Group acquired the remaining 50% of the shares not previously owned in iPrint Corporate Pty Ltd for a cash consideration of $375,100 (refer to note 30). As at 30 June 2011 iPrint Corporate Pty Ltd was accounted for as a subsidiary of the Group. Financial information of iPrint Corporate Pty Ltd Current assets Non-current assets 10,021 147 10,168 9,857 11 9,868 300 Net assets Income Expenses Profit before tax Income tax expense Net profit after tax Wellcom Group Limited’s share of entity’s net profit after tax while jointly controlled 8,311 6 8,317 2,232 44,043 (41,266) 2,777 (833) 1,944 Current liabilities Non-current liabilities 10,379 170 10,549 44,768 (41,880) 2,888 (866) 2,022 972 1,011 Dividends received from jointly controlled entity The Group received total dividends of $1,000,000 (2010: $1,500,000) du...
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