36. Zeus Ltd owns 100% of the issued capital of Ares Ltd. On 1 July 2015, Zeus Ltd purchased an item of equipment from Ares Ltd for $800 000. Ares had owned the equipment for 2 years. It originally cost $890 000 and the accumulated depreciation was $178 000 at the time of sale. The equipment has been depreciated over this time, but not written down or revalued. The remaining useful life of the equipment at 1 July 2015 is estimated to be 8 years. Zeus Ltd expects the benefits to be obtained from the equipment to be evenly received over its useful life. The tax rate is 30%. What are the consolidation journal entries required for this inter-company transaction for the period ended 30 June 2016

Meat Ltd purchased 100% of the issued capital of Pie Ltd for a cash consideration of $1.7 million on 1 July 2014.At that time the fair value of the net assets of Pie Ltd were represented by: Share capital $1 000 000 Retained earnings 500 000 $1 500 000 Goodwill had been determined to have been impaired by $20 000 during the period.During the period ended 30 June 2015, Pie Ltd sold inventory that cost $450 000 for $620 000 to Meat Ltd. Twenty per cent of this inventory remains on hand in Meat Ltd at the end of the year.Both companies use a perpetual inventory system.The taxation rate is 30%.At the end of the period Pie Ltd declared a dividend of $45 000 that has not yet been paid. What consolidation journal entries are required for the period ending 30 June 2015