Why are adjustments for some intragroup transactions necessary in the calculation of the NCIl share of equity? The follow question relate with non-controlling interest Shine Ltd owns 90% of the share capital of THD Ltd. In January 2017, Shine Ltd sells inventory to THD Ltd for $50 000 cash. This inventory had previously cost Shine Ltd $42 000, and remains unsold by THD Ltd at the end of the period. The income tax rate is 30%. A junior accountant working for Shine Ltd recorded the following consolidation adjustment for 30 June 2017: Sales revenue Dr 50 000 Cost of sales Inventories 42 000 8 000 Deferred tax asset 2400 Dr Cr Income tax expense 2 400 NCI 560 NCI share of profit/loss 560 Please discuss whether the entries are correct