Dingo Ltd owns all the shares of Beach Ltd. In relation to the following intragroup transactions, all parts of which are independent unless specified, prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2022. Assume the income tax rate is 30%.

(i) On 1 January 2021 Beach Ltd sold a new tractor to Dingo Ltd for $300,000 that had cost Beach Ltd $260,000 on that day. Both entities charged depreciation at 20% p.a. on a straight-line basis.

(ii) Beach Ltd rented a spare warehouse to Dingo Ltd from 1 July 2021 to 30 June 2022. The annual rental is $80,000. Rent owing at 30 June 2022 is $25,000.

(iii) During the year ending 30 June 2022, Beach Ltd sold $55,000 worth of inventory to Dingo Ltd. Beach Ltd recorded an $8,000 profit before tax on these transactions. At 30 June 2022, Dingo Ltd has one-quarter of these goods still on hand. The invoice remains unpaid at 30 June 2022.

(iv) On 1 October 2021, Dingo Ltd issued 800 10% debentures of $100 at nominal value. Beach Ltd acquired 200 of these debentures. Interest is payable half-yearly on 31 March and 30 September. Accruals have been recognised in the legal entities accounts.

(v) Beach Ltd paid an interim dividend of $50,000.

Required

Prepare the consolidation worksheet journal entries at 30 June 2022 in respect of the above intragroup transactions.