Parent Ltd owns 100% of the issued capital of Sub Ltd. Both companies use the perpetual method of accounting for inventory. Assume the tax rate is 30%. Note: You must show your workings for any calculation you do Required: D Prepare consolidation journal entries for the year ended on 30 June 2021 for each of the following independent cases: On 1 October 2020, Sub Ltd sold a machine to Parent Ltd for $90,000 cash. The machine had originally cost $150,000 and had a carrying amount of $75,000 at the time of the sale. Parent depreciates the asset at 10% per annum straight-line with a $5,000 residual amount. Sub had been depreciating the asset at 5% per year on a straight-line basis with no residual Edie Via Incert Format Tools Table