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Flower Ltd acquired a 35 per cent interest in Bud Ltd on 1 July 2023.

Information relating to the period ended 30 June 2025 is as follows:

In the previous period, consolidation adjustments had a net effect of $61 250 (debit) to the Investment account in Bud Ltd.

Bud Ltd had an after-tax profit of $190 000 for the 2024/2025 period.

Bud Ltd revalued the land upward during the period by $100 000.

Bud Ltd declared a $60 000 dividend out of post-acquisition profits. This dividend will not be paid until the following period.

Flower Ltd accrues the dividends of associates as revenue when they are proposed. The investment has been recorded in Flower's books in accordance with the cost method.

What consolidation journal entries are required to apply the equity accounting method for the period ended 30 June 2025 assuming that Flower Ltd is a parent entity (Ignore tax)?

Group of answer choices

Dr	Investment in Bud Ltd	61 250
Cr	Retained earnings beginning		61 250
Dr	Investment in Bud Ltd	66 500
Cr	Share of associate's profit		66 500
Dr	Investment in Bud Ltd	35 000
Cr	Asset revaluation reserve		35 000
Dr	Dividend revenue	21 000
Cr	Investment in Bud Ltd		21 000

Dr	Investment in Bud Ltd	66 500
Cr	Share of associate's profit		66 500
Dr	Investment in Bud Ltd	35 000
Cr	Asset revaluation reserve		35 000
Dr	Dividend revenue	21 000
Cr	Investment in Bud Ltd		21 000

Dr	Dividend revenue	66 500
Cr	Dividend receivable		66 500
Dr	Land	35 000
Cr	Asset revaluation reserve		35 000

Dr	Investment in Bud Ltd	61 250
Cr	Retained earnings		61 250
Dr	Investment in Bud Ltd	66 500
Cr	Share of associate's profit		66 500
Dr	Dividend revenue	66 500
Cr	Dividend receivable		66 500
Dr	Land	35 000
Cr	Asset revaluation reserve		35 000

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