Sigatoka Ltd acquired all issued share capital of Nadi Ltd on 1 July2011 for a cash payment of $885,000. Nadi Ltd is the only subsidiary of Sigatoka Ltd. The share capital and reserves of Nadi Ltd at the date of acquisition were:
 
Share capital  $598,000
Retained earnings $102,000
Revaluation surplus $50,000
 
As at the date of acquisition, all assets of Nadi Ltd were at fair value, other than the property, plant and equipment, which had a fair value of $250,000. The cost of the property, plant and equipment was $328,000 and it had accumulated depreciation of $178,000. The property, plant and equipment were expected to have a remaining useful life of eight years. At the date of acquisition, the notes to Nadi Ltd's financial statements identify a contingent liability related to an unsettled legal claim with a fair value of $10,000 which would be tax deductible when paid. On 1 May 2012, the liability relating to the legal claim was settled and paid in full. There were no intra-group transactions between Sigatoka Ltd and Nadi Ltd between 1 July 2011 and 30 June 2014.
 
How to prepare the acquisition analysis and all adjustment/elimination journal entries for consolidation at acquisition, 1 July 2011?

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