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Required 1. Calculate the amount of goodwill/ (bargain purchase) acquired on acquisition. (2 Marks) 2. Prepare the necessary journal entries to account for the business

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Required 1. Calculate the amount of goodwill/ (bargain purchase) acquired on acquisition. (2 Marks) 2. Prepare the necessary journal entries to account for the business combination valuation reserve adjustments at acquisition date. (3 marks) 3. Prepare the consolidated worksheet using the following columns (5 Marks) Assets/ High Sky Low Adjustments Group Liabilities/ Limited Land Ltd Equity DR CR

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