On 1 July 2019, Delta Ltd acquired 80 percent of the share capital of Alpha Ltd for $800,000, which represented the fair value of the consideration paid, when the share capital and reserves of Alpha Ltd were:

Share capital $700,000

Revaluation surplus $200,000

Retained earnings $100,000

Total $1,000,000

All assets of Alpha Ltd were recorded at fair value at acquisition date, except for some plant that had a fair value of $50,000 greater than it's carrying amount. The cost of the plant was $250,000 and it had accumulated depreciation of $180,000. The tax rate is 30 percent.

Assume that the non-controlling interest was measured at the proportionate share of the acquiree's identifiable net assets.

i. Calculate the goodwill and non-controlling interest at acquisition date. Show workings.

ii. Provide journal entries to recognise fair valuation of the plant at acquisition date. Show workings.

iii Provide journal entry to recognise the goodwill and to eliminate the Delta investment in pre-acquisition capital and reserves.

iv Provide a journal entry to recognise the non-controlling interest in contributed equity and reserves at date of acquisition.