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H Ltd had acquired 100% interest in G Ltd on 1 July 2010 for $356 000. At that date Gs share capital was $200 000 and retained earnings $170 000. At the date of acquisition all assets were considered to be fairly valued. The tax rate is 30%.

The closing inventory in H includes inventory acquired from G at a cost of $33 600. This cost G $28 000 to produce.

The closing inventory of G includes inventory acquired from H at a cost of $12 000. This cost H $9 600 to produce.

The opening inventory in H as at 1 July 2018 included inventory acquired from G for $42 000 that had cost G $35 000 to produce.

On 1 July 2018 H sold an item of plant to G for $116 000 when its carrying value in Hs accounts was $81 000 (cost of $135 000, accumulated depreciation of $54 000). This plant is assessed as having a remaining useful life of six years.

On 1 July 2017 G sold an item of plant to H for $232 000 when its carrying value in Hs accounts was $162 000 (cost of $270 000, accumulated depreciation of $108 000). This plant is assessed as having a remaining useful life of seven years.

G paid $26 500 in management fees to G Ltd. Dividend paid by G in the year ended 30 June 2019 is $93 000.

Required: Provide the acquisition analysis and consolidation journal entries for the year ended 30 June 2019.

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