N Ltd sold an item of plant and equipment to S Ltd on 31 December 2016 for $140 000. At the time, the plant and equipment had an original cost of...

N Ltd sold an item of plant and equipment to S Ltd on 31 December 2016 for $140 000. At the time, the plant and equipment had an original cost of $240 000 and accumulated depreciation of $120 000. N Ltd had been depreciating the asset at 20% per annum on cost. When they acquired the asset the directors of S Ltd depreciated the asset over its remaining useful life. 

What colidation entries are needed and the relevant calculation and workings for it