DDD Ltd negotiated with CCC Ltd to acquire the business of CCC Ltd, after which CCC Ltd would go into liquidation. The acquisition date was 1 March 2021. At that date, CCC Ltd reported the following:

Assets	Carrying amounts 1 March 2021 $	Fair Values 1 March 2021 $
Cash	19 000	19 000
Accounts receivable (net)	70 000	70 000
Inventories	80 000	65 000
Land	153 000	200 000
Plant	260 000	180 000
Accumulated depreciation - plant	(60 000)
Total assets	522 000
Liabilities
Accounts payable	47 500	47 500
Provision for employee benefits	20 500	22 500
Current tax liability	17 000	17 000
Bank Loan	70 000	70 000
Debentures (5%)	50 000	50 000
Total liabilities	205 000
Net assets	$317 000
Equity
Share capital ($2 ordinary shares)	240 000
Retained earnings	77 000
Total equity	$317 000

DDD Ltd agreed to acquire all assets (except for cash) and assume all liabilities (except for the current tax liability and debentures) of CCC Ltd.

In exchange, DDD Ltd would transfer the following to CCC Ltd:

• A block of land valued at $160,000 on acquisition date (carrying amount on this date in DDD Ltd accounts $155,000).
• Issue three (3) DDD Ltd shares for every five (5) CCC Ltd shares. DDD Ltd shares are valued at $2.80 on acquisition date.
• Sufficient additional cash to that already held by CCC Ltd, so that CCC Ltd can pay off remaining liabilities (debentures to be redeemed at 5%) and liquidation costs of $2,900.

a) Prepare an acquisition analysis for DDD Ltds acquisition of CCC Ltd business on 1 March 2021.

b) Prepare the necessary journal entries in the accounts of DDD Ltd for the acquisition of CCC Ltd on 1 March 2021.