Question 1 1 pts On 1 July 2016, Fish Ltd acquired all the shares in Chip Ltd. At the date of acquisition, all the net assets of Chip Ltd were at fair value except for a plant, which has a carrying amount of $135,000 (cost is $240,000). Fish Ltd assessed the plant as having a fair value of $195,000, with a remaining useful life of 4.5 years. The consolidation adjusting entry to record the tax effect on the depreciation expense at 30 June 2021 includes: O Dr Deferred tax asset $8,000 O Cr Income tax expense $2,000 O Cr Income tax expense $1,000 O Dr Deferred tax asset $2,000 Question 1 1 pts On 1 July 2016, Fish Ltd acquired all the shares in Chip Ltd. At the date of acquisition, all the net assets of Chip Ltd were at fair value except for a plant, which has a carrying amount of $135,000 (cost is $240,000). Fish Ltd assessed the plant as having a fair value of $195,000, with a remaining useful life of 4.5 years. The consolidation adjusting entry to record the tax effect on the depreciation expense at 30 June 2021 includes: O Dr Deferred tax asset $8,000 O Cr Income tax expense $2,000 O Cr Income tax expense $1,000 O Dr Deferred tax asset $2,000