Question: Can someone please explain the journal entry line by line below? and explain how to demonstrate the effect on the consolidated financial statements using the

Can someone please explain the journal entry line by line below? and explain how to demonstrate the effect on the consolidated financial statements using the consolidation worksheet.

A Ltd has acquired all the issued shares of B Ltd for $150. The balance sheets of both companies immediately after acquisition are as follows:

A LtdB Ltd

Share capital$200Share capital$100

Reserves100Reserves50

300150

Shares in B Ltd150--

Cash150Cash150

300150

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