Consolidation worksheet entries, sequential acquisitions   LO3 On 1 July 2019, Brunei Ltd acquired (ex div.) 80% of the issued shares of Bhutan Ltd for $146 400. At this date, the equity of Bhutan Ltd consisted of: Share capital $100 000 General reserve 50 000 Retained earnings 20 000 In the accounts at this date, Bhutan Ltd had recorded a dividend payable of $5000 and goodwill of $13 000. All the identifiable assets and liabilities of Bhutan Ltd were recorded at fair value except for the following. Carrying amount Fair value Plant (cost $120 000) $90 000 $100 000 Inventories 40 000 45 000 The plant has a further 5‐year useful life, and is depreciated using the straight‐line method. Of the inventories, 90% were sold by 30 June 2020, the remaining 10% being sold by 30 June 2021. During the period ended 30 June 2020, Bhutan Ltd recorded a profit of $40 000 and there were no changes in reserves. During the period ended 30 June 2021, Bhutan Ltd recorded a profit of $36 000, and recorded a transfer to general reserve of $6000. On 1 January 2020, Bhutan Ltd acquired 50% of the issued shares of Burma Ltd for $57 000, giving it the capacity to control that entity. At this date, the equity of Burma Ltd consisted of: Share capital $ 80 000 General reserve 40 000 Retained earnings (10 000) The identifiable assets and liabilities of Burma Ltd consisted of: Carrying amount Fair value Land $50 000 $56 000 Plant (cost $110 000) 80 000 82 000 Inventories 10 000 12 000 All the inventories on hand at 1 January 2020 was sold by 30 June 2020. The plant had a further 10‐year useful life, and was depreciated using the straight‐line method. The land was sold by Burma Ltd in the period ended 30 June 2021. The profit of Burma Ltd for the period from 1 January 2020 to 30 June 2020 was $8000. There were no movements in the general reserve during this period. During the period ended 30 June 2021, Burma Ltd earned a $20 000 profit. Burma Ltd also transferred $20 000 from general reserve to retained earnings during the period ended 30 June 2021. Required Prepare the consolidation worksheet entries for the preparation of the consolidated financial statements of Brunei Ltd at 30 June 2021.