question 1 ( no need to explain just put right answer)

Dipendra Ltd owns all the shares capital of Kiran Ltd. On 1 September 2021, Dipendra Ltd sold inventory to Kiran Ltd $21,800. Dipendra Ltd originally purchased the inventory for $15,260. 50% of the inventory in Kiran Ltd was sold outside the group by 31 December 2021 (financial year end).

The tax rate is 30%.

Record the consolidation elimination entries for the intragroup sale of inventory

Dr Sales

Cr Cost of Sales

Cr inventory

Dr deffered tax liability

question 2( no need to expain just put answer)

Anish Ltd acquired all the issued capital of Barsha Ltd on 1 July 2021 for a cost of $1,061,600. The share capital and reserves of Barsha Ltd on the date of acquisition are:

Share Capital 572,000

Retained Earnings 136,000

General Reserve 213,000

It is considered that the assets of Barsha Ltd are fairly stated at the date that Anish Ltd acquires its shares except for an equipment (Cost: $500,000) which has a carrying amount of $350,000 with a current market value of $438,000

Corporate tax rate is 30%

(a) What is the amount of the purchase consideration?

(b) What is the amount of the BCVR?

(c) What is the amount of the goodwill or bargain purchase?