Kali Ltd owns 100% of the shares of Moon Ltd. The following transactions have occurred: (i) (ii) Required On 1 January 2020, Moon Ltd sold inventory, which had originally cost $15,000, to Kali Ltd for $17,400. In July 2020, Kali Ltd sold all of the inventory to Baboon Ltd for $19,800. On 1 July 2019, Moon Ltd sold machinery to Kali Ltd at a transfer price of $80,000. The machinery had been written down to $65,000 at the time of sale. Machinery is depreciated on a straight-line basis at 20% p.a. a) Prepare the consolidation worksheet entries for the above transactions at 30 June 2021. Narrations are required. Show all workings and calculations. b) For each of the entries in part a), explain the entries noting the adjustment to each account separately. (7 + 14 = 21 marks)