Fiona Ltd Obtained Control of Belinda Ltd on 1 January

Multiple Choice

Fiona Ltd obtained control of Belinda Ltd on 1 January 20X2.The following items may require attention for group data adjustments:
Belinda had shipped $50 000 of inventory to Fiona.As at control date Fiona had not received or recognised this shipment.
Fiona had made a $10 000 payment to Belinda for interest payment on an inter-company loan, but as of 1 January 20X2 Belinda had not received the payment.
The loan made from Fiona to Belinda was $100 000 and has a maturity date of 20X7.
The Fiona Group uses the revaluation model for property.Belinda's property needs to be revalued upwards $30 000, and Belinda has agreed to do so, but as of control date this had not been done.
Belinda has an intangible copyright asset which is not recognised by Belinda but has a fair value of $80 000.
The question refers to the consolidation worksheet prepared at control date.
-Assume that the worksheet uses both data adjustment and eliminations columns.The correct consolidation data adjustment entry in respect of all of these items is most likely:

A)
$\begin{array} { l l l } \text { Dr. Inventory } & \$ 50000 & \\\text { Dr. Property } & \$ 30000 & \\\text { Dr. Copyright } & \$ 80000 & \\\text { Cr. Asset revaluation reserve } & & \$ 30000 \\\text { Cr. Accounts payable } & & \$ 50000 \\\text { Cr. Fair value reserve } & & \$ 80000\end{array}$
B)
$\begin{array} { l l r } \text { Dr. Inventory } & \$ 50000 & \\\text { Dr. Property } & \$ 30000 & \\\text { Dr. Copyright } & \$ 80000 & \\\text { Cr. Asset revaluation reserve } & & \$ 30000 \\\text { Cr. Fair value reserve } & & \$ 130000\end{array}$
C)
$\begin{array} { l l r } \text { Dr. Property } & \$ 30000 & \\\text { Dr. Copyright } & \$ 80000 & \\\text { Cr Fair value reserve } & & \$ 110000\end{array}$
D) None of the above