On 1 July 2019, Alpha Ltd acquired 80% of the shares (ex div.) of Beta Ltd for $285 000. The NCI owns the remaining 20% of the shares in Beta Ltd. At this date the shareholders equity of Suburb Ltd consisted of:

Share capital

$150 000

Retained earnings

75 000

General reserve

60 000

At this date, all the identifiable assets and liabilities of Suburb Ltd were recorded at amounts equal to their fair values except for the following:

Carrying amount ($)

Fair value

($)

Patents

100 000

130 000

Machinery (cost $140 000)

110 000

118 000

Required: Prepare the acquisition analysis at 1 July 2019, assuming partial goodwill method is used