On 1 July 2016, Angelina Ltd took control of the assets and liabilities of Jolie Ltd. At this date the statement of financial position of Jolie Ltd was as follows:

	Carrying amount	Fair value
Machinery	$40,000	$67,100
Fixtures and fittings	60,000	68,100
Vehicles	35,000	34,000
Current assets	10,000	12,200
Current liabilities	(16,000)	(18,400)
Total net assets	129,000
Share capital (80,000 shares at $1.00 per share)	80,000
General reserve	20,000
Retained earnings	29,000
Total equity	129,000

Required Prepare the journal entries in the records of Angelina Ltd at 1 July 2016 in each of the following situations, assuming the costs of issuing the shares by Angelina Ltd cost $1,350. (Round your answer to the nearest whole number.)

Angelina Ltd issued 80,000 shares having a fair value of $2.50 per share in exchange for the net assets of Jolie Ltd.

Net fair value of identifiable assets and liabilities acquired: $

Consideration transferred: $

Goodwill: $

Account Titles and Explanation	Debit	Credit
(Acquisition of assets and liabilities of Jolie Ltd)
(Share issue costs)