O WORDS POWERED BY TINY QUESTION 3 Intragroup transactions: 25 points Save Answer Tom Ltd acquired all the issued shares of Jerry Led on 1 January 2021. The following intra-group transactions have taken place between the two entities since this acquisition: Assume an income tax rate of 30%. a) On 31 May 2021, Tom Ltd sold plant costing $150 000 to Jerry Lid for $128 000. Tom Led had recorded accumulated depreciation of $25,000 (plant) prior to the sale. Both entities depreciate assets at 10% p.a. on cost. (11 marks) b) On 1 June 2021, Jerry Ltd sold inventory to Tom Lid for $95,000. These goods had cost Jerry Ltd $92,000. All inventory has been sold to external parties for $96,000 by 30 June 2022. (6 marks) c) Since acquisition date, Tom Ltd provides office space to Jerry Ltd for a rental fee of $240,000 per annum. Rent is paid in quarterly instalments, Rent has not been paid for the final June 2022 quarter. Both entities record accruals at year end. (8 marks) Required: Prepare the consolidation worksheet entries at 30 June 2022 to adjust for the effects of the above inter-entity transactions (Narrations are not required). For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS A v ... Paragraph Open Sans, sa... 10pt Ev TX E E X 2 V Activate Windows Go to Settings to activate Save All Answers Save and Submit Click Save and Submit to save and submit. Click Save All Answers to save all answers. TCL