On 1 July 2020, Goliath Ltd acquires all shares in David Ltd for $800 000. The fair value of net assets acquired is $920 000 comprised of $600 000 in share capital and $320 000 in retained earnings.
What is the appropriate elimination entry for this investment that is in accordance with
a. AASB 3 Business
b. Combinations and AASB 10
c. Consolidated
d. Financial Statements