On 1 July 2020 , Big Ltd acquired all the issued share capital of Small Ltd for cash for an amount of $1,050,000. On the date of the acquisition, the statements of the financial position of both entitimam n fallm.... Required: a) Calculate the goodwill on acquisition assuming all net assets of small Ltd are recorded in fair value. (5 marks) c) What journal entry would the parent company Big Ltd record in its own accounting record for the acquisition of Small Ltd at the acquisition date? (1 mark)