In relation to the following intragroup transactions during the year ended 30 June 2021, prepare adjusting journal entries for the consolidation worksheet at 30 June

1. Rod Ltd sold a motor vehicle to Tom Ltd for $106000. This had a carrying amount to Rod Ltd of $96460. Both entities depreciate motor vehicles at a rate of 10% p.a. on
2. Tom Ltd sold inventories to Rod Ltd for $118000 on credit, recording a profit of $23600. Half of the inventories were unsold by Rod Ltd at 30 June 2021.
3. Rod Ltd sells inventories to Tom Ltd for $126000 in cash. These inventories had previously cost Rod Ltd $88200, and remain unsold by Tom Ltd at the end of the period.
4. Tom Ltd sells inventories to Rod Ltd for $120000 in cash (original cost to Tom Ltd was $84000) and 80% are sold externally by 30 June 2021.
5. Rod paid $12000 dividend.

Tom Ltd purchased all issued shares of Rod Ltd for $1393000 on 1 July 2020 when the equity of Rod Ltd was as follows; Share capital 557200 General reserve Asset revaluation surplus 208950 417900 At this date, Rod Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the followings; Account Fair value Further life(Years) Inventories Land $46,000 $114,000 $156,000 Vehicle 8 Contingent Liability Cost Carrying Amount $41,800 $104,000 $162,500 $130,000 Rod Ltd identified at acquisition date a lawsuit where Rod Ltd was sued by a former supplier with the Fairvalue of: Rod Ltd had unrecorded and internally generated Patent with the FairValue of: Rod Ltd had unrecorded and internally generated in-process research and development with the FairValue of: $17,000 Unrecorded Asset $42,000 Unrecorded Asset $32,000 Tax rate:30%