149 A89-06- Review View Table Design Layout D Last AutoCcDdEe Aurmal ABCCONE AaBbCcDr AaBbCcD Heading Heading 1 No Spacing Question 2: (5+10=15 Marks) On 1 July 2021, Omita Ltd acquired all the assets and liabilities of Beta Ltd. In exchange for these assets and liabilities, Omita Ltd issued 110 000 shares that at date of issue had a fair value of $5.10 per share. Costs of issuing these shares amounted to $1500. Legal costs associated with the acquisition of Beta Ltd amounted to $1800. The asset and liabilities of Beta Ltd at 1 July 2021 were as follows: Carrying amount Fair value Assets S 14,000 $ 14,000 Cash Accounts receivable $ 8,000 $ 13,000 Inventories 63,000 $ 68,000 Equipment 320,000 $232,000 Accu Depreciation-Equip -$ 96,000 $ Patents $ 250,000 $270,000 Liabilities Accounts payable S Debentures 16,000 $ 16,000 $ 75,000 $ 75,000 Required I A. Prepare the acquisition analysis at 1 July 2021 for the acquisition of Beta Ltd by Omita Ltd. (5 marks) B. Prepare the journal entries in the records of Omita Ltd at 1 July 2021. (10 marks) A Answer here] Details