Parent Ltd acquired all of the share capital of Subsidiary Ltd for $350 000 on 1 July 20X7 when the equity of Subsidiary Ltd consisted of: Share capital Retained earnings At the date of acquisition, all of the identifiable assets and liabilities of Subsidiary Ltd were recorded at amounts equal to fair value, except for the following: . Plant (cost $180 000) Additional information: The plant is expected to have a remaining useful life of 5 years (ii) On 3 April 20X9, Subsidiary Ltd paid a div The tax rate is 30%. Carrying amount $ 120 000 $ 200 000 70 000 Required: (i) Prepare the worksheet journal entries for the preparation of consolidated financial statements for Parent Ltd and its subsidiary, Subsidiary Ltd, as at 1 July 20X7. Show all calculations. jsou resce was V Prepare the worksheet journal entries required for the preparation of consolidated financial statements for Parent Ltd and its subsidiary, Subsidiary Ltd, as at 30 June 20X9. Show all calculations. urs Here com