Acquisition analysis, acquisition date entries  LO3, 4 On 1 July 2019, Christina Ltd acquired all the issued shares of Adeline Ltd, paying $120 000 cash and transferring 100 000 of its own shares to Adeline Ltd’s former shareholders. At that date, the financial statements of Adeline Ltd showed the following information. Share capital $100 000 General reserve 50 000 Retained earnings 150 000 All the assets and liabilities of Adeline Ltd were recorded at amounts equal to their fair values at the acquisition date. The fair value of Christina Ltd’s shares at acquisition date was $2 per share. Christina Ltd incurred $30 000 in acquisition‐related costs that included $5000 as share issue costs. Required 1. Prepare the acquisition analysis at 1 July 2019. 2. Prepare the journal entries for Christina Ltd to recognise the investment in Adeline Ltd at 1 July 2019. 3. Prepare the consolidation worksheet entries for Christina Ltd’s group at 1 July 2019.