Wanan (B) CONSOLIDATION WORKSHEET ENTRIES ( Note: The following questions in this part are independent of each other. (1) On 1 June 2021, ABC Ltd acquired all the issued shares in DEF Ltd. At that date, the inventory of DEF Ltd had a fair value of $1 000 more than it carrying amount. By 30 June 2021, all of the inventory remains unsold. The company tax rate is 30%. What is the business combination valuation consolidation adjustment for inventories as at 30 June 2021? (3 Marks) (2) On 1 July 2020, ABC Ltd acquired all the issued shares in DEF Ltd. At that date, the Land of DEF Ltd had a fair value of S10 000 more than it carrying amount. The Land was sold to XYZ Ltd. on 1 May 2021. The company tax rate is 30%. What is the business combination valuation consolidation adjustment for land as at 30 June 2021? (3 Marks) (3) In the previous accounting period, which was ended on 30 June 2020, the acquired goodwill was regarded as having become impaired by $10 000. What is the appropriate consolidation adjustment in relation to the impairment of the goodwill in the current period on 30 June 2021? (2 Marks) (4) On 1 July 2021. ABC Limited acquired all the issued shares of DEF Limited for $350 000 when the equity of DEF Limited consisted of Hamal, Ankit 01/11 answered Time Remaining Show (4) On 1 July 2021, ABC Limited acquired all the issued shares of DEF Limited for $350 000 when the equity of DEF Limited consisted of: Share capital $130 000 Retained earnings 120 000 General Reserve 100000 What is the pre-acquisition entry on 1 July 2021? (2 Marks) Q6-B Type your answers here. HB i A. X, X 2 be