Intra Group Transations XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during
Posted: Fri Jul 01, 2022 8:20 am
Intra Group Transations
XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March:
1. XYZ Limited paid rent $1000 to ABC Limited for the month of March.
2. XYZ Limited declared a dividend of $1,500 to ABC Limited.
3. XYZ Limited paid the dividend to ABC Limited declared on 2nd March.
4. ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month.
5. ABC Ltd issues 10 $100 debentures with an interest rate of 15% p.a. payable on 15 March of each year to XYZ Limited.
Required: Provide consolidation worksheet adjusting entries for each of the transactions listed above.
please answer it in best way and dot take help of google and other tutoring sites thanku
XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March:
1. XYZ Limited paid rent $1000 to ABC Limited for the month of March.
2. XYZ Limited declared a dividend of $1,500 to ABC Limited.
3. XYZ Limited paid the dividend to ABC Limited declared on 2nd March.
4. ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month.
5. ABC Ltd issues 10 $100 debentures with an interest rate of 15% p.a. payable on 15 March of each year to XYZ Limited.
Required: Provide consolidation worksheet adjusting entries for each of the transactions listed above.
please answer it in best way and dot take help of google and other tutoring sites thanku