Valerie Ltd acquires all the issued capital of Zeno Ltd for a cash payment of $13750000 on 30 June 2022. At this date, all assets were fairly valued. At date of acquisition the share capital and reserves of 7.eno I td were as follows. Required (i) Calculate the amount of goodwill/ gain on bargain purchase on acquisition. (ii) Prepare the consolidation journal entry to eliminate investment in subsidiary and record goodwill/ gain on bargain purchase on acquisition. Valerie Ltd acquires all the issued capital of Zeno Ltd for a cash payment of $13750000 on 30 June 2022. At this date, all assets were fairly valued. At date of acquisition the share capital and reserves of 7.eno I td were as follows. Required (i) Calculate the amount of goodwill/ gain on bargain purchase on acquisition. (ii) Prepare the consolidation journal entry to eliminate investment in subsidiary and record goodwill/ gain on bargain purchase on acquisition