Do part (a)

Josh Ltd sold inventory to Edie Ltd for $200,000. The inventory originally cost Josh Ltd $100,000. By

the end of the year, 50% of the inventory had been sold to an external party, and the remaining 50%

of the inventory was still on hand.

The following transactions occurred between Edie Ltd and its wholly owned subsidiary, Josh Ltd. All

transactions occurred during the year ended 30 June 2022 unless specifically stated otherwise. The

company tax rate is 30%.

Required:

Prepare the adjustment entries required to eliminate the intra-group transactions in the consolidation

worksheet of Edie Ltd Group on 30 June 2022.

Details of the transactions are provided below in Parts A-F. Provide the journal entries in the text box

below the description of each transaction.

There is no worksheet provided in this question and therefore you are not required to post the entries to a

worksheet. When making adjustments to the relevant accounts, you can assume that each account that

you need to adjust exists in the worksheet.

Show all calculations.

Formatting requirements: In all journal entries, you must specify whether the entry is a debit or credit

entry by including "Dr" or "Cr" before the account name. Credit entries must also be indented. Journal

entries which do not follow these requirements will be awarded a mark of zero. Below are examples of

correctly formatted journal entries:

Dr Cash

1000

Cr Cash

1000

QUESTION 4: Total of 25 marks This question consists of 6 parts (Parts A, B, C, D, E, and F). All parts must be attempted. The following transactions occurred between Edie Ltd and its wholly owned subsidiary, Josh Ltd. All transactions occurred during the year ended 30 June 2022 unless specifically stated otherwise. The company tax rate is 30%. Required: Prepare the adjustment entries required to eliminate the intra-group transactions in the consolidation worksheet of Edie Ltd Group on 30 June 2022. Details of the transactions are provided below in Parts A-F. Provide the journal entries in the text box below the description of each transaction. There is no worksheet provided in this question and therefore you are not required to post the entries to a worksheet. When making adjustments to the relevant accounts, you can assume that each account that you need to adjust exists in the worksheet. Show all calculations. Formatting requirements: In all journal entries, you must specify whether the entry is a debit or credit ntry by including "Dr" or "Cr"before the account name. Credit entries must also be indented. Journal ntries which do not follow these requirements will be awarded a mark of zero. Below are examples of orrectly formatted journal entries: Cash QUESTION 4 Part (A) Josh Ltd sold inventory to Edie Ltd for $200,000. The inventory originally cost Josh Ltd $100,000. By the end of the year, 50% of the inventory had been sold to an external party, and the remaining 50% of the inventory was still on hand