Question 6 Swamp Ltd acquired 90% of the shares (cum div.) of Tortoise Ltd on 1 July 2017 for $474 000. At this date, the equity of Tortoise Ltd consisted of: Share capital Asset revaluation surplus Retained earnings $ 250 000 60 000 160 000 At acquisition date all the identifiable assets and liabilities of Tortoise Ltd were recorded at amounts equal to fair value. Tortoise Ltd had recorded goodwill of $10 000 and a dividend payable of $20 000, which was paid in August 2015. At 30 June 2018, the equity of Tortoise Ltd consisted of: Share capital Asset revaluation surplus Retained earnings $ 250 000 80 000 220 000 During the 201819 year Tortoise Ltd recorded a profit of $40 000. Required Prepare the consolidated worksheet entries at 30 June 2019 for Swamp Ltd assuming Swamp Ltd adopts the partial goodwill method. Partial Goodwill Method