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Question 2 Bernie Boffin Ltd owns 100 per cent of Computer Ltd. 0n 11uly 2021 Bernie Bofn Ltd sells an item of plant to Computer

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Question 2 Bernie Boffin Ltd owns 100 per cent of Computer Ltd. 0n 11uly 2021 Bernie Bofn Ltd sells an item of plant to Computer Ltd for $3.5 million. This plant cost Bernie Boffin Ltd $4.5 million and had accumulated depreciation of $1.3 million at the date of the sale. The remaining useful life of the plant is assessed as 12 years and the tax rate is 33 per cent. REQUIRED Provide the consolidation journal entries for 30 June 2022 and 30 June 2023 to adjust for the above sale

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