Charlotte Ltd owns all the share capital of Aloise Ltd and the income tax rate is 30%. Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements for the following transactions as at 30 June 2019.

1-On 10 June 2019, Aloise Ltd sold inventories to Charlotte Ltd for $40 000 in cash. The inventories had previously cost Aloise Ltd $32 000. Half of these inventories were unsold by Charlotte Ltd at 30 June 2019. (2.5 marks)

2-During the period ended 30 June 2019, Aloise Ltd paid an interim dividend of $9 000 out of pre-acquisition profits. (1 marks)

3-On 20 July 2018, Aloise Ltd sold inventories to Charlotte Ltd for $20 000 in cash. The inventories had previously cost Aloise Ltd $16 000. One quarter of these inventories remained unsold by Charlotte Ltd at 30 June 2019. (2.5 marks)

On 1 September 2018, Alois Ltd sold an equipment to Charlotte Ltd for $38 000. This had a carrying amount to Sam Ltd of $28 000. Both entities depreciate equipment at a rate of 10% p.a. on cost.