Taballa Ltd owns all the share capital of Amaroo Ltd . The income tax rate is 3

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Question:

Taballa Ltd owns all the share capital of Amaroo Ltd $.$ The income tax rate is $30 % .$ The following transactions took place during the periods ended $30$ June $2023$ or $30$ June $2024 .$

$($ a $)$ On $1$ May $2023,$ Amaroo Ltd sold inventories costing $ $600$ to Taballa Ltd for $ $1 200$ on credit. On $30$ June $2023,$ only half of these goods had been sold by Taballa Ltd $,$ and Taballa Ltd had paid $ $600$ to Amaroo Ltd $.$ All remaining inventories were sold to external entities by $30$ June $2024$ and Taballa Ltd paid the outstanding amount to Amaroo Ltd on $5$ May $2024 .$

$($ b $)$ On $1$ January $2023,$ Taballa Ltd sold an item of plant to Amaroo Ltd for $ $10 000 .$ Immediately before the sale, Taballa Ltd had the item of plant on its accounts for $ $12 000 .$ Taballa Ltd depreciated items at $5 %$ p $.$ a $.$ on the diminishing balance and Amaroo Ltd used the straight $-$ line method over $10$ years.

$($ c $)$ An inventories item with a cost of $ $4 000$ was sold by Taballa Ltd to Amaroo Ltd for $ $3 600$ on $1$ January $2024 .$ Amaroo Ltd intended to use this item as equipment. Both entities charge depreciation at the rate of $10 %$ p $.$ a $.$ on the diminishing balance on non $-$ current assets. The item was still on hand at $30$ June $2024 .$

$($ d $)$ Taballa Ltd provided management services to Amaroo Ltd during the period ended $30$ June $2024 .$ The total charge for those services was $ $5 000$ that was unpaid at $30$ June $2024 .$

$($ e $)$ Taballa Ltd borrows $ $60 000$ from Amaroo Ltd on $1$ July $2022$ with an interest rate of $2 %$ p $.$ a $.$ The loan is for $5$ years. The interest is to be paid biannually in arrears, starting on $31$ December $2022 .$

Required

$1 .$ Prepare adjusting journal entries for the consolidation worksheet at $30$ June $2023$ and $30$ June $2024$ in relation to the intragroup transactions.