As you are aware Sun Ltd purchased 100% of issued shares in Star Ltd on 1 July 2022 on a cumdividend basis, and at that time, Sun Ltd paid total $300,000 cash. Start Ltd provided the following financial information on acquisition date. Carrying amount Fair Value Inventory (all sold by 30/6/2023) 45,000 50,000 Land 100,000 140,000 Goodwill 8,000 8,000 Dividend payable (paid on 30/8/2022) 18,000 18,000 Share capital 200,000 200,000 Retained earnings 40,000 Our accountant prepared an acquisition analysis and calculated goodwill of $60,000 (being $300,000 less the subsidiary's equity acquired of $240,000) to be reported in the accounts. Is this correct? What journal entries (if any) do I need to make for 30 June 2024? Please show all workings and explain each journal entry, as I need to be able to respond to questions from the Board of Directors. In addition, we want some advice on transactions made between Sun Ltd and Start Ltd. Please see below. During May 2024, Sun Ltd sold inventories to Star Ltd for $130,000 cash, the original cost for the inventory was $95,000. Our accountant informed me that this transaction must be adjusted for consolidated statements but it depends on the amount of inventory remaining in Star Ltd. Can you explain what this means? Please provide any necessary journal entries on 30 June 2024 to explain this. 31 December 2022, Sun Ltd sold old equipment to Star Ltd for $190,000. The equipment originally cost Sun Ltd $270,000, and carrying amount was $100,000 at the date of the sale. The remaining useful life of the equipment was five years on 31 December 2022. We believe this entry is no longer required as the transaction was made in previous financial year. Is this correct? If not, please explain what needs to be done with the transaction and show any journal entries necessary as at 30 June 2024.

i need acquisition entries