Consolidation worksheet entries, multiple subsidiaries, acquisitions on the same date   LO3 The statements of financial position of Tonga Ltd, Thailand Ltd and Tuvalu Ltd for the year ended 30 June 2020 are as follows. Tonga Ltd Thailand Ltd Tuvalu Ltd Share capital $150 000 $50 000 $21 000 Retained earnings 60 000 18 000 4 000 Dividend payable 30 000 10 000 6 000 $240 000 $78 000 $31 000 Non‐current assets $120 000 $20 000 $10 000 Shares in Thailand Ltd 55 800 — — Shares in Tuvalu Ltd — 21 000 — Inventories 10 000 25 000 20 000 Receivables 54 200 12 000 1 000 $240 000 $78 000 $31 000 For the year ended 30 June 2020, Thailand Ltd and Tuvalu Ltd recorded a profit of $2000 and $1000 respectively. Thailand Ltd holds 90% of the issued shares of Tuvalu Ltd since their acquisition on 1 July 2017 for a total consideration of $20 730. At the acquisition date, Tuvalu Ltd’s equity comprised of the following items. Share capital (21 000 shares) $21 000 Retained earning 1 000 At this date, all identifiable assets and liabilities of Tuvalu Ltd were recorded at fair value except for some plant for which the fair value of $8000 was $1000 greater than the carrying amount (i.e. original cost of $8500 less accumulated depreciation of $1500). The plant was expected to last a further 5 years. On 1 July 2017, the directors of Tonga Ltd made a successful offer for 45 000 of Thailand Ltd’s fully paid shares. The consideration was $54 990 and, at the acquisition date, Thailand Ltd’s equity comprised of the following items. Share capital (50 000 shares) $50 000 Retained earnings 4 000 At this date, all identifiable assets and liabilities of Tonga Ltd were recorded at fair value except for some machinery whose fair value was $3000 greater than its recorded amount of $6000, the latter being $10 000 cost less accumulated depreciation of $4000. The machinery was expected to have a further useful life of 3 years. Required Prepare the consolidation worksheet entries for the preparation of the consolidated financial statements of Tonga Ltd’s group and all its subsidiaries at 30 June 2020.