help me experts 25.2 Accounting by an acquirer .Tony Ltd acquired all the assets and liabilities of Jennings Ltd on 1 July 2024. At this date, the assetsand liabilities of Jennings Ltd consisted of the following.Carrying amount$1 000 0004 0000005000 000Fair valueCurrent assetsNon-current assets$ 980 0004220 0005200 000Liabilities500 000$4 500 000$3 000 0001500 000$4 500 000500 000$4700 000Share capital - 100 000 sharesReservesIn exchange for these net asrets, Tony Ltd agreed to:• issue 10 Tony Ltd shares forvery Jennings Ltd share-Tony Ltd shares were considered to havea fair value of S10 per share; costs of share issue were $500• transfer a patent to the former shareholders of Jennings Ltd-the patent was carried in the recordsof Tony Ltd at $350 000 but was considered to have a fair value of $1 million• pay $5.20 per share in cash to each of the former sharcholders of Jennings Ltd.Tony Ltd incurred $10000 in costs associated with the acquisition of these net assets.Required1. Prepare an acquisition analysis in relation to this acquisition.2. Prepare the journal entries in Tony Ltd to record the acquisition at I July 2024.

Total assets = Current assets + Non current assets = 980,000+ 4,220,000…

Tony Ltd acquired all the assets and liabilities of Jennings Ltd on 1 July 2024. At this date, the assets and liabilities of Jennings Ltd consisted of the following. Carrying amount $1 000 000 Fair value $ 980 000 4220 000 5200 000 Current assets Non-current assets 4 000 000 5 000 000 Liabilities 500 000 $4 500 000 $3 000 000 1500 000 $4 500 000 500 000 $4 700 000 Share capital - 100 000 shares Reserves In exchange for these net aspets, Tony Ltd agreed to: • issue 10 Tony Ltd shares for&ery Jennings Ltd share- a fair value of SI0 per share: costs of share issue were $500 • transfer a patent to the former sharcholders of Jennings Ltd-the patent was carried in the records of Tony Ltd at $350 000 but was considered to have a fair value of $1 million $5.20 per share in cash to each of the former sharcholders of Jennings Ltd. Tony Ltd shares were considered to have - pay Tony Ltd incurred $10000 in costs associated with the acquisition of these net assets. Required 1. Prepare an acquisition analysis in relation to this acquisition. 2. Prepare the journal entries in Tony Ltd to record the acquisition at I July 2024.