B Ltd purchased an asset for $200 000 on 1 July 2015.This asset has a five year life and is depreciated straight line for both accounting and taxation purposes.B Ltd sold this asset to A Ltd on 1 Jul 2017 for $150 000.A Ltd owns 80% of the share capital of B Ltd.For the year ended 30 June 2019, B Ltd made an after tax profit of $500 000.The company tax rate is 30%.

Required:

Prepare the consolidation journal entries for 2018 and 2019 to adjust for this asset sale, and calculate the NCI share of B Ltd as at 30 June 2019.Show your workings.