P$7\mathrm{.}1$ Information pertaining to the group structure of A Ltd is as follows:

B Ltd

A Ltd acquired $70\%$ of share capital of B on January $20$x$1$

Fair value of consideration ttransferred $1\mathrm{.}250\mathrm{.}000$

Share capital of B at date of acquisition $300\mathrm{.}000$

RE of B at date of acquisition $700\mathrm{.}000$

Net assets acquires were at fair values.

Fair value of non$-$controlling interests of B at date of acquisition $500\mathrm{.}000$

C Ltd

B Ltd acquired $60\%$ of the issued share capital of C Ltd on $2$ January $20$x$2$

Fair value of consideration transferred $650\mathrm{.}000$

Share capital of C at date of acquisition $250\mathrm{.}000$

RE of C at date of acquisition $500\mathrm{.}000$

Net assets acquired were at fair value

Fair value of non$-$controlling interests of C at date of acquisition $400\mathrm{.}000$

Extracts of the $20$x$4$ financial statements of the companies are shown below:

A B C

Profit before tax $12\mathrm{.}500\mathrm{.}000750\mathrm{.}0006\mathrm{.}250\mathrm{.}000$

Tax expense $(2\mathrm{.}500\mathrm{.}000)(150\mathrm{.}000)(1\mathrm{.}250\mathrm{.}000)$

Profit after tax $10\mathrm{.}000\mathrm{.}000600\mathrm{.}0005\mathrm{.}000\mathrm{.}000$

Dividends declared $(5\mathrm{.}000\mathrm{.}000)(300\mathrm{.}000)(500\mathrm{.}000)$

Profit retained for the year $5\mathrm{.}000\mathrm{.}000300\mathrm{.}0004\mathrm{.}500\mathrm{.}000$

RE$,1$ January $20$x$412\mathrm{.}500\mathrm{.}0001\mathrm{.}500\mathrm{.}0001\mathrm{.}000\mathrm{.}000$

RE$,31$ December $20$x$417\mathrm{.}500\mathrm{.}0001\mathrm{.}800\mathrm{.}0005\mathrm{.}500\mathrm{.}000$

Profit before tax include dividend income from subsidiaries. The tax rate was $20\%$

Required:

$1.$ Prepare the necessary eliminations and consolidation journal entries with respect to A$\text{'}$s group financial statements for the year ended $31$ December $20$x$4,$ using the

simultaneous method of consolidation.

$2.$ On January $20$x$5,$ C acquired $90\%$ of D$\text{'}$s share capital. Calculate the non controlling interest percentage both direct and indirect, in D$.$ Ltd