Albert Ltd regularly sells goods to its wholly-owned subsidiary company Brooklyn Ltd, which it has owned since Brooklyn Ltd.'s incorporation. The statement of financial position of the two companies on 28th February 2023 is given below:

Show the proforma journals for each

• Which accounting standards influence the preparation of the consolidated accounts for the group?
• Prepare a consolidated account for the group that ended 28th February 2023

Assets STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2023 Non-Current Assets Brookly ALBERT LTD Ltd n Ltd (R) (R) 90,000 60,000 PPE 35,000 60,000 Investments in 55,000 shares in Brooklyn Ltd at cost 55,000 Current Assets 55,000 51,000 Inventory 16,000 27,000 Trade receivable: Brooklyn Ltd 2,000 Bank Total Assets Other 21,000 24,000 16,000 145,000 111,000