QUESTIONS 7: CONSOLIDATION WORKSHEET ENTRIES (20 MARKS) Sydney Ltd incorporated the subsidiary Melbourne Ltd by contributing $800,000 for all the 400,000 issued shares. Prepare the journal entries for the consolidation worksheet for 30 June 2022. Details of intra- group transactions that are relevant to the consolidation for 30 June 2022 are as follows: Assume an income tax rate of 30%. Question 14 (a) Melbourne Ltd pays an annual rent fee of $100,000 to Sydney Ltd at 30 June each year. (2 Marks)