On acquisition date, a contingent liability relating to an unsettled legal claim with a

fair value of $$80000$ was recorded in the notes to the subsidiary's financial

statements. The parent company must then recognise the liability in its

consolidated financial statements at fair value. The company tax rate is $30\%.$ In the

year following the acquisition, the subsidiary loses the court case and pays

damages of an amount less than $$80000,$ say $$20000,$ then the consolidation

worksheet entry is:

Answer:

$

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${}^{}$

$

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$

$($No answer given$)$

$