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hi can you please help hi can you please help with this question thankyou Questions Business Combinations Total: 10 Marks Foo Ltd negotiated with Fighter

hi can you please help
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hi can you please help with this question thankyou Questions Business Combinations Total: 10 Marks Foo Ltd negotiated with Fighter Ltd to acquire the Fighter Ltd marketing division. As at 30 June 2017 the statement of financial position of Fighter Lid's marketing division was as follows Carrying Amount Fair Value Cash $11.000 $ 11000 Accounts receivable 26.000 26.000 Inventory 54.000 54.000 Land & Buildings (net) 25.000 60.000 Plant & Machinery (net) 36.000 50.000 Office Equipment 4.000 4.000 Shares in listed companies 15.000 15,000 Goodwill 7,000 7.000 Total assets $ 178,000 Accounts payable $ 14,000 14.000 Provision for long service leave 10.000 10,000 Current tax liability 6.000 5,000 Bank loan 16.000 16 000 Debentures 50.000 50,000 Share capital issued at $1, fully paid) 80,000 Retained earnings 22 000 Total not assets $ 178,000 Question 5 continued over the page Question continued The acquisition agreement details are as follows: Foo Lid is to acquire all the assets (except for cash) and liabilities (except for the provision for long service leave, current tax liability and debentures) of Fighter Las In exchange Foo Lid will provide three shares in Foo Lid for every four shares held in Fighter Lid. The shares in Foo Lid are to be issued at their fair value of $3 per share Foo Lid is to provide sufficient additional cash to enable Fighter Lid to pay out the provision for long service leave and the current tax liability to redeem the debentures at a premium of 5%, and to pays its liquidation expenses of $2,500 . Required: a) Prepare the acquisition analysis for Foo Lid's acquisition of Fighter Lid b) Prepare the journal entries for the acquisition in the records of Foo Ltd [7 martes) (3 mars

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