Question 2 P Ltd acquires 24 million $1 shares (80%) of the ordinary shares of S Ltd on 1 January 203 by offering a share-for-share exchange of two shares for every three shares acquired in SLtd and a cash payment of $1 per share payable on 31 December 20X5. P Ltd's shares have a nominal value of $1 and a current market value of $2. The cost of capital is 10%. Required: Prepare the journal entries in the books of P Ltd in relation to the above transactions