Q9.1 16 Points 1.On 1 July 2020, Morrison Ltd acquired 100s of the shares of Albanese tid for 32.800,000. On 1 july 2020 , the equity of Albanese ud consisted of: 2. Al the identifiable assets and liabilities of Albanese thd were recorded at fair value on 1 july 2020 except for: The above plant and equipment had a further Syear life and was expected to be used evenly over that time. 3. During the year ended 30 June 2021 , a0N of the above inversorier an hand of Abarese had an 1 july 2020 was sold to extenal parties. The balance was sold to external parties in the year ended 30jn, 2022. 4. During the year ended 30 june 2021, Abanese Ltd sold inventary to Morrison Ita. These inventores toet stlli heid by Morrison Ltd. 5. Albanest und sold same land to Moerisan iod in December 202t. The land had orighaly oost Abanese tod 5150,050 and the land wat told to Morriean tad far two,000. To frante the purchase of the land, Abunese tit provided Morrisan ut an interest-free lown of $10505C and the balunce was paid in cash. 6. During the year ended 30 Jure 2022 , there was a trandter to general resene of 5142000 by Altanese tid. The transfer to general reierve was bom pre-acquisition profts. 7. Albanese Led paid dividends of 5130,002 for the period ended 30 june 1022. 8. Carporate tax rate of 30 applin. where applicable. For the year ended 30 June 2022, prepare the (1) Business Combination Valuation Reserve entries ( 9 marks) (2) Pre-acquisition elimination entries (7 marks)