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What is the consolidated worksheet entry

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Question - When Wayne Ltd acquired 100% of the share capital of Carol Ltd on 1 July 2018, the carrying amount of Carol Ltd's machinery was $200,000. The fair value of the machinery on acquisition date was $220,000. Both companies depreciate their non-current assets using a straight line method at 20% per annum. The company tax rate was 30%. What is the consolidated worksheet entry on 1 July 2018, 30 June 2019, 30 June 2020, if the machinery was sold to an external party for $180,000 on 1 July 2019? Please show step by step without summarise.

Reference no: EM132977738

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