-al re Swan Ltd ng at 1 J Student # 11700433 Step 1: Select your student number from the drop down list Step 2: Find your following assignment question and follow the directions . entries Important: The file should be opened Step 3: Prepare your assignment including Part A and part B in Microsoft Word. Upload your assignment in Turnitin before the due date. assets, 1 in Excel Step 4: quired 7 The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, a WORD format file soft copy to be submitted in Turnitin before the due hare car date. Please ensure you provide your ID numbers and full name at the first page. Late assignments will be penalised, 5%of total available marks deduction per day. were r For the following case provide all: a )calculations b) accounting standards c) related journal entries d) relevant explanations an int $50 0 On 1 July 2019 Alma Ltd acquired 90% the issued shares of Davis Lid for $978000 . The equity of Davis Ltd at this date consisted of: Share capital 342000 quisiti Retained earnings 147000 in lashugg Vert ard trounced. General reserve 117000 All the identifiable assets and liabilities of Davis Ltd were recorded at amounts equal to their fair values at acquisition date except for the following; ets, f Account Cost Carrying Fair value Further life- in Amount Year Sug Inventories $147,000 $265,000 f sh Land $293,000 $527,000 ver Plant $410,000 $342,000 $616,000 Fittings $20,000 $20,000 Liabilities $50,000 $50,000 OS All inventories on hand at 1 July 2019 are sold by 30 June 2020. Further life of the assets are listed on the above table. Alma Ltd uses the partial goodwill method. Tax rate:30% Required 1- Prepare the acquisition analysis at acquisition date. 2- Prepare the business combination valuation entries and pre-acquisition entry at acquisition date. 3- Prepare the journal entry to recognise NCI at acquisition date. 4-Prepare the consolidation worksheet entries at 30 June 2020. Assume a profit for Davis Ltd for the year ended 30 June 2020 of $20000. 000.0) 319 050.8