continued table for Q2

question completion Status 24 points QUESTION 2 On 1 July 2020, Rabbit Ltd acquired all the issued shares (cum div.) of Peter Ltd for $450,000. At this date, all assets and liabilities were carried at amounts equal to their fa except for inventory Peter Ltd had recorded inventory at 55,000 however, the fair value was estimated to be $8,000.70% of this inventory was sold by 30 June 2021 An extract of Peter Ltd's financial statements are as follows: Peter Ltd Balance sheet (extract) as at 1 July 2020 $20,000 Dividend Receivable Inventory $5,000 $60,000 Plant and equipment Accumulated Depreciation Goodwill $10,000 $6,000 Inventory 55,000 Plant and equipment Accumulated Depreciation Goodwill $60,000 $10,000 $6,000 $50,000 Dividend Payable(to be paid August 2020) Share capital $300,000 Retained earnings $150,000 Required: a) Prepare an acquisition analysis as at 1 July 2020 (8 marks) b) Prepare the consolidation worksheet entries at 30 June 2021 (16 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI V S Paragraph Arial 10pt V !!! A TY Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers (hp)