Green ltd purchased 80% of the issued capital of maroon for condsideration of $4000000 and in the process gained control over maroon ltd on 1 july 2015. the fair value of the net assets of maroon ltd at purchase was represented by:

share capital 3220000

retained earning 740000

total 3960000

at acquisation date all the identifiable assets and liabilities of marooon ltd were recored at the amount equal to fairvalue.

at 1 july 2015, the fair value of the non-controlling interest was $1000000 and maroon ltd adopts the full good will method.

at 30 june 2016, the equity of maroon ltd consisted of

share capital 3220000

retained earning 860000

total 3960000

during the 2015-16 financial year maroon ltd recorded a profit of $120000

required:

prepare acquisition analysis

prepare the consolidated worksheet entries at 30 june 2016 for swampltd.