On 1 March Black Ltd Acquired All Shares of White $\text { DR\quad Shares in White Ltd } \quad 100,000$

On 1 March Black Ltd acquired all shares of White Ltd for $100 000. Black Ltd paid $60 000 cash and issued 10 000 shares to White Ltd as a consideration. Black Ltd's shares are trading in the market at $4 per share on 1 March. What are the journal entries recorded by Black Ltd at the acquisition date?

A) $\text { DR\quad Shares in White Ltd } \quad 100,000$
$\begin{array}{lll}\text { CR } & \text { Cash } & 100,000\end{array}$
B) $\text { DR Shares in White Ltd }\quad\quad\quad100,000$
$\begin{array}{lll}C R & \text { Cash } & 60000 \\C R & \text { Gain } & 40000\end{array}$
C) $\begin{array}{l}\text { DR Shares in White Ltd } \quad 100,000\\\begin{array} { l l l } \text { CR } & \text { Cash } & 60,000 \\\text { CR } & \text { Share Capital } & 40,000\end{array}\end{array}$
D) $\begin{array}{lll}\text { DR Cash } & & 60,000 \\\text { DR } & \text { Share Capital } & 40,000\\\text { CR} & \text { Shares in White Ltd } & 100,000\end{array}$