On $1$ July $2024,$ Belka Ltd acquired all the issued shares of Nungatta Ltd for a cash consideration of $$1200000.$ At that date, the financial statements of Nungatta Ltd showed the following information.

Share capital $$800000$

General reserve $50000$

Retained earnings $300000$

All the assets and liabilities of Nungatta Ltd were recorded at amounts equal to their fair values at the acquisition date, except some equipment recorded at $$30000$ below its fair value with a related accumulated depreciation of $$90000.$ Also, Belka Ltd identified at acquisition date a contingent liability related to a lawsuit where Nungatta Ltd was sued by a former supplier and attached a fair value of $$20000$ to that liability.

Required

$1.$ Prepare the acquisition analysis at $1$ July $2024.$

$2.$ Prepare the consolidation worksheet entries for Belka Ltd$$s group at $1$ July $2024,$ assuming that Nungatta Ltd has not revalued the equipment in its own accounts.

$3.$ Prepare the consolidation worksheet entries for Belka Ltd$$s group at $1$ July $2024,$ assuming that Nungatta Ltd has revalued the equipment in its own accounts.

Solve along with numberical entries