Question: Answer pls On 1 July 2016 Elsa Ltd acquired all the shares in Show Yourself Ltd for $936,000. At the date of acquisition, the financial
Answer pls

On 1 July 2016 Elsa Ltd acquired all the shares in Show Yourself Ltd for $936,000. At the date of acquisition, the financial statement of Show Yourself Ltd shows the following: Account name Amount Assets: . . . Goodwill $110,000 Owners equity: Retained earnings $560,000 Share capital $710,000 At the date of acquisition, the following consolidation adjustment is required: O Cr Bargain purchase $234,000 Cr Bargain purchase $214,000 Cr Goodwill $110,000 Cr Bargain purchase $226,000
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