Company A paid $7800000 when it acquired 60% of the equity in Company B in 1 April 2015. At the date of acquisition, the equity of B consisted of Share capital of $7000000 and Retained earnings of $1520000. Company B uses the cost model, so several assets are lower than its fair value at the date of acquisition.

As at the date of acquisition:	At Carrying value:	At fair value:
Land and building	$2 080 000	$3 000 000
Land	2 500 000	4 200 000
Equipment	1 998 000	2 200 000
Other assets	3 900 000	3 900 000
Intangible assets	-	890 000
Liabilities	1 958 000	1 958 000
Contingent liabilities	-	340 000

Prepare a 100% acquisition analysis to find the acquired goodwill, then prepare the notional journal entries, to eliminate the Company A asset investment B, and to eliminate A's portion of equity in B.

All information has been provided. Use the journal entries provided below to help you. I am stuck on iii) as my debits do not add to the investment amount

BRIEF SUMMARY of NOTIONAL JOURNAL ENTRIES((slides 46 to 91) (1) Adjust Sub net assets to FV (see slide 47 for all the relevant journal entries) Dr PPE-Sub Cr ARS-Sub, (ii) Recognise unrecognised intangible assets in the group Dr Intangible asset-Sub Cr ARS-Sub and recognise contingent liabilities in the group Dr RE b/f-Sub Cr Contingent liabilities-Sub FV 51%-100% (III) Investment in Sub and parent's portion of Sub equity eliminated Dr Share Capital-Sub X Dr RE b/f-Sub Dr ARS-Sub Dr Goodwill-Sub * Cr Investment in Sub-Parent [Asset of Paret Plus extra journal entry IF GW is impaired Dr Impairment expense (current year)-Sub Dr RE b/feprior years. Sub Cr Goodwill-Sub 1968-2021 Expenses line Figures as af dlate of acquisition X BRIEF SUMMARY of NOTIONAL JOURNAL ENTRIES((slides 46 to 91) (1) Adjust Sub net assets to FV (see slide 47 for all the relevant journal entries) Dr PPE-Sub Cr ARS-Sub, (ii) Recognise unrecognised intangible assets in the group Dr Intangible asset-Sub Cr ARS-Sub and recognise contingent liabilities in the group Dr RE b/f-Sub Cr Contingent liabilities-Sub FV 51%-100% (III) Investment in Sub and parent's portion of Sub equity eliminated Dr Share Capital-Sub X Dr RE b/f-Sub Dr ARS-Sub Dr Goodwill-Sub * Cr Investment in Sub-Parent [Asset of Paret Plus extra journal entry IF GW is impaired Dr Impairment expense (current year)-Sub Dr RE b/feprior years. Sub Cr Goodwill-Sub 1968-2021 Expenses line Figures as af dlate of acquisition X