D Question 11 1 pts Salt Ltd acquired all the shares of Pepper Ltd on 1 July 2018. Due diligence work conducted by Salt Ltd revealed that all the assets and liabilities of Pepper Ltd were carried at fair value at the date of acquisition, except for a contingent liability resulting from a civil litigation that has been assessed as a present obligation having a fair value of $240,000. The contingent liability was settled by Pepper Ltd for $260,000 on 1 July 2019. Which of the following consolidation adjusting entries is required as at 30 June 2021? No consolidation entries will be required O Dr FVA $168,000, Dr DTA $72,000: Cr Contingent liability $240,000 Dr FVA $168,000; Dr Loss on settlement $20,000; Dr ITE $72,000; Cr Settlement expense $260.000 Dr FVA $168.000; Cr Retained earnings $168,000