Please help do do the following questions. I am mainly stuck at the journal side.

ACCTZODZ Assessment 1 Part A Question 1 (40 marks) 0n 1 July 2019, James Ltd acquired all the issued shares of Kelly Ltd for $200,000. At this date, the nancial statements of Kelly Ltd showed the following: 40.800 Total equity 146,300 At acquisition date, all the net identiable assets and liabilities in Kelly Ltd were recorded at amounts equal to their fair value except for: \" 80.000 83.000 Plant cost $40 000 10 000 20 000 The records also showed that the company had recorded existing goodwill of $15,000. The Plant was calculated to have a further life of 5 m was depreciated on a straight- line basis. All inventory was sold by 30June 2020. Assume 30% tax rate Required: (a) Prepare the acquisition analysis at 1 July 2019. (6 marks) (b) Prepare the general journal entries at acquisition date, 1 July 2019. Include narrations for each entry. (15 marks) (c) Prepare the consolidation worksheet as at 1 July 2019. (13 marks) (d) Prepare a Balance sheet for the reporting Group, James Ltd as at 1 July 2019 in narrative format. (6 marks) Question 1 (c) (13 marks) Consolidation worksheet answer: Financial statements James Ltd Kelly Ltd Adjustments Group Debit Credit S S $ Share capital 200,000 70,000 Retained earn 50,000 35,500 General Reserve 40,800 BCVR 0 Total Equity 250,000 146,300 Current Assets Inventory 30,000 80,000 Other assets 0 41,300 Non-current Assets Plant (at cost) 45000 40,000 Accumulated depreciation -25,000 -30,000 Goodwill 0 15,000 Investment in Kelly Ltd 200,000 Total Assets 250,000 146,300 Current Liabilities Deferred Tax liability 0 0 Net Assets 250,000 146,300