1. Prepare the journal entries in the records of Sonic Ltd to account for the acquisition of the assets and liabilities of Screwdriver Ltd. 2. Prepare the journal entries assuming that the fair value of Sonic Lid shares was S4 per share. 25.2 Accounting by an acquirer. LOG Tony Ltd acquired all the assets and liabilities of Jennings Ltd on 1 July 2024. At this date, the assets and liabilities of Jennings Ltd consisted of the following. Current assets Non-current assets Carrying amount $1 000 000 4000000 5000 000 500 000 $4500 000 $3 000 000 1500 000 $4500 000 Fair value $ 980 000 4220 000 5200 000 500 000 $4700 000 Liabilities Share capital - 100000 shares Reserves In exchange for these net aspets, Tony Ltd agreed to: issue 10 Tony Ltd shares forewery Jennings Ltd share Tony Ltd shares were considered to have a fair value of STO per share: costs of share issue were $500 transfer a patent to the former shareholders of Jennings Ltd -- the patent was carried in the records of Tony Ltd at S350 000 but was considered to have a fair value of $1 million pay $5.20 per share in cash to each of the former shareholders of Jennings Ltd. Tony Ltd incurred $10000 in costs associated with the acquisition of these net assets. Required 1. Prepare an acquisition analysis in relation to this acquisition 2. Prepare the journal entries in Tony Lid to record the acquisition at 1 July 2024 25.3 Accounting by an acquirer. LO6 David Ltd. a supplier of snooker equipment, agreed to acquire the business of a nival company. Tennant Ltd, taking over all assets and liabilities as at 1 June 2023 NEVE