Note:

Statement of Financial Position is given for the year ended 30 June 2021 (i.e. 1 July 2020 to 30 June 2021) for this intra-group transaction. There is no need for the next year-end statement. This intra-group transaction needs 2 years adjustment, year-end 30 June 2021 and 30 June 2022

Senior Ltd owns 100% of the issued shares of Junior Ltd. The following financial position of Senior ltd and its subsidiary Junior ltd have been extracted at 30 June 2021: On 1 July 2020, Senior Ltd sold an item of plant to Junior Ltd for 1.35 million. This plant carrying value in Senior Ltd's accounts was $1.0125 million (cost $1.6875 million and accumulated depreciation $0.675 million). The remaining useful life of the plant is assessed as 12 years and the tax rate is 33%. Required: Provide the consolidation journal entries for 30 June 2021 and 30 June 2022 to adjust for the above sale