Intragroup transactions (10 marks) ot yet Marked out of 0.00 Flag Question Melissa Ltd owns all of the share capital of Rebecca Ltd. The income tax rate is 30%. The following transactions took place during the periods ended 30 June 2020 Required: In relation to the following intragroup transactions, prepare adjusting journal entries for the consolidation worksheet on 30 June 2020 (a) Melissa Ltd sels inventories to Rebecca Ltd for $135000 in cash. These inventories had previously cost Melissa Ltd $108000 and remain unsold by Rebecca Ltd at the end of the period. (2.5 marks) (b) Melissa Ltd sells inventories to Rebecca Ltd for $210000 in cash. These inventories had previously cost Melissa Ltd $154000, and are fully sold externally. (1 Mark) c) Rebecca Ltd sells inventories to Melissa Ltd for $108000 in cash (the original cost to Rebecca Ltd was $72000) and 85% sold externally (2.5 marks) id) Melissa Ltd sold equipment to Rebecca Ltd for $255000. This had a carrying amount to Melissa Ltd of $210000. Both entities depreciate equipment at a sale of 10% pa on cost. (3 Marks) (e) Rebecca Ltd paid an interim dividend of $15000 out of pre-acquisition profits (Man) Khima GURUND 7 Fish atempt