Workshop Esmise 1 On 1 July 2010. Parent Ltd acquired all of the shares of Sub Ltd for $125,000. At the acquisition date the equity of Sub Ltd consisted of: Share capital $150 000 Reserves 10 000 Retained earnings 30 000 At the date of acquisition, this equity reected the fair values ofall the identiable assets and liabilities of Sub Ltd with the exception of Land1 which had a fair value $10.{H)0 greater than its carrying amount. Additional information I Sub Ltd made an interest only $25,000 loan to Parent Ltd during 2011 with an annual interest rate of 3% p.a. This loan is still outstanding. There is no accrued interest on the reporting date. it During 2014 Sub Ltd remed ofce space ~om Parent Ltd at a cost of $15,000 of which $4.000 remains outstanding at the reporting date. :- n 30 June 2014 the directors of Parent Ltd valued goodwill at $1?,000. No impairment has hen recognised in prior periods. 1: Do 30 June 2014, Sub Ltd declared and paid dividend $9 000. e The corporate tax rate is 30%. Required: (a) Prepare the 30 June 2014 consolidation journal entries relevant to the above transactions and events. (b) Complete the consolidation worksheet extract provided. {it} CUNSLmAiTIN JOURNAL ENTRIES 1. Fair value increment __ Lana Deferred tax liability _ Business combination revaluation maerve -_ 2. Pro-acquisition elimination __ mm Mew Busineas combination revaluation reserve \"b" __ Retained earnings (0:13) _ Mi Investment in Sub Ltd _ 3. Intragroup loan and interest -- Loans receivable _ 25 DOB Wm 4. Intrngroup SEW-[HS __ Rent revenue __ General 3: admin exPenses (rent earpense] __ Parables - Reoeivables __ mmmmimpairment __ Goodmmpamemxm min Aeetnnulated impairment of goodwill _m TVS-.2J.._J.. _....I.J n