On 1 July 2022, Keith Ltd acquired the remaining 80% of the issued shares that it did not previously own in Urban Ltd, transferring 400000 Keith Ltd shares to Urban Ltds former shareholders. At that date, the financial statements of Urban Ltd showed the following information.

Share capital $700000 Asset revaluation surplus 140000 Retained earnings 460000

All the assets and liabilities of Urban Ltd were recorded at amounts equal to their fair values at the acquisition date. The fair value of Keith Ltds shares at acquisition date was $3.50 per share. The previously held interest by Keith Ltd in Urban Ltd (i.e. 20% of the issued shares) was recognised in Keith Ltds accounts at the fair value at 1 July 2022 of $260000. Keith Ltd incurred $25000 in acquisition-related costs, including $12000 in share issue costs.

Required a) Prepare the acquisition analysis at 1 July 2022. b) Prepare the journal entries for Keith Ltd to recognise the additional investment in Urban Ltd at 1 July 2022. c) Prepare the consolidation worksheet entries for Keith Ltds group at 1 July 2022.