Prepare the acquisition analysis for Pant Limited

All the identifiable net assets of Lyon Ltd were recorded by Lyon Ltd at fair value except for the inventories, which were considered to be worth $190,000 (assume no tax effect). The plant had an expected remaining life of 5 years. The business combination was completed and Lyon Ltd went into liquidation. Pant Ltd incurred incidental costs of $4,000 in relation to the acquisition. Costs of issuing shares in Pant Ltd were $6,000. Required a. Prepare the acquisition analysis for Pant Limited (10 marks) Prepare the journal entries in the records of Pant Ltd to record the business combination