Question 1 Partial Goodwill Method Green Ltd acquired 90% of the shares (ex div.) of Yellow Ltd on 1 July 2018 for $250 000. At this date, the equity of Yellow Ltd consisted of: Share capital $ 140 000 General Reserve 25 000 Retained earnings 70 000 At acquisition date all the identifiable assets and liabilities of Yellow Ltd were recorded at amounts equal to fair value except the following: Inventory Patent Plant(cost 100 000) Carrying Amount 30 000 85 000 80 000 Fair value 45 000 90 000 90 000 Plant was depreciated at 10% using straight line method. Patent has definite life and existing goodwill of $5000 was recorded. At 30 June 2019, the equity of Yellow Ltd consisted of: Share capital $ 140 000 General Reserve 40 000 Retained earnings 90 000 During the 2019-20 year Yellow Ltd recorded a profit of $30 000. Required Prepare the consolidated worksheet entries at 30 June 2020 for Green Ltd assuming: Green Ltd adopts the partial goodwill method: (1) Calculate Acquisition Analysis? (15 marks (2) Prepare all consolidation journal entries for 30/6/2020 (15 marks)