Z Ltd is the parent entity of D Ltd. Assume the company income tax is 30%. The following intra-group transactions are relevant to the consolidation for the vear ended 30 June 2017: Z Ltd made inventory sales of $750 000 to D Ltd during the year ended 30 June 2016. The original cost of this inventory to Z Ltd was $600 000. D Ltd had the entire inventory on hand at 30 June 2016. (b) D Ltd made inventory sales of $500 000 to Z Ltd during the year ended 30 June 2016. The original cost of this inventory to D Ltd was $400 000. Z Ltd had one-quarter of this inventory on hand at 30 June 2016. (c) ZLtd transferred plant to D Ltd on 1 July 2016. The proceeds on sale were $450 000. At the date of the transfer the plant had a carrying amount to Z Ltd of $300 000 (cost of $500 000 and accumulated depreciation of $200 000) and a remaining useful life of 6 years. (d) D Ltd has an intercompany accounts payable owing to Z Ltd at 30 June 2017 amounting to $200 000 that relates to unpaid inventory purchased. Required: Following AASB10, prepare the consolidation journal entries for the Z Ltd economic entity at 30 June 2017 that is necessary in respect of this intra-group transaction and balance.

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