a. RoboTech Ltd acquired 100% of the issued shares of ExTech Ltd on 1 July 2016 for 450,000. The statements of financial position of the companies immediately after the acquisition were as follows (all assets stated at their fair value):

Statements of Financial Position for the year ended 1 July 2016.

Shareholders equity. ExTech RoboTech

Share capital 500000 350000

General reserve 50000 42100

Retained earnings 130000 31000

Total shareholders' equity 680000 423100

Assets

Current assets 150000 572000

Investment in D Ltd. 310000. -

Other non-current assets 569000 431090

Total assets 1029000 1003090

Liabilities

Current liabilities. 165000 36000

Non-current liabilities 210000 90000

Total liabilities 375000 126000

Net assets 654000. 877090

Required:

An acquisition analysis and the consolidation journal entry as at the date of acquisition.

b. The general ledger of Anita Ltd revealed the following deferred tax balances as at 1 July 2018:

Deferred tax asset80,000

Deferred tax liability90,000

The company tax rate was reduced from 30% to 25% on 17 October 2018 (to be effective for the financial year ending 30 June 2019).

Required:

journal entry to recognise the reduction in the deferred tax asset and deferred tax liability balances.