On 1 July 20X5,Helios Ltd Acquired All of the Issued

On 1 July 20X5,Helios Ltd acquired all of the issued capital of Havers Pty Ltd (100 000 shares) for $10 per share.Immediately subsequent to acquisition,the directors of Havers Ltd declared and paid a dividend of $60 000 from the retained earnings at 30 June 20X5.During the year ended 30 June 20X6,Helios Ltd received an interim dividend of $40 000 from Havers Ltd and the directors of Havers Ltd declared a final dividend of $60 000.At the date of acquisition,1 July 20X5,the shareholders' equity of Havers Ltd was (amounts in thousands) : $\begin{array}{ll}\text {Shareholders' equity }\\\text { Issued capital}&\$200\\\text { Retained earnings}&400\\&---\\\text { Total shareholders' equity }&\$600\end{array}$
At the date of acquisition,the carrying amounts of the net assets of Havers Ltd approximated fair value.If a consolidated balance sheet were to be prepared for Helios Ltd and its subsidiaries at the date of acquisition,the consolidation adjustment to eliminate the investment in the subsidiary would be:

A) $\begin{array}{ll}\text { Issued Capital } & \$ 200,000 \\\text { Retained Earnings } & 400,000 \\\text { Goodwill } & 400,000\\\text { Investment in Subsidiary }&\$1,000,000\end{array}$
B) $\begin{array}{ll}\text { Issued Capital } & \$ 200,000 \\\text { Retained Earnings } & 400,000 \\\text { Dividend Payable } & 60,000 \\\text { Goodwill } & 340,000\\\text { Investment in Subsidiary }&\$1,000,000\end{array}$
C) $\begin{array}{ll}\text { Issued Capital } & \$ 200,000 \\\text { Retained Earnings } & 340,000 \\\text { Dividend Payable } & 60,000 \\\text { Goodwill } & 340,000 \\\quad \text { Investment in Subsidiary } &\$940,000\end{array}$
D) none of the above