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Prepare the consolidation adjustments journal entries

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Reference no: EM133168650

Question - T Berhad and V Berhad set up A Sdn Bhd as a separate vehicle entity under the joint venture arrangement (50/50 profit sharing). The cost to set up was RM150,000 for each company. During the year 2021, A Sdn Bhd after profit was RM40,000 and declared and paid dividend of RM15,000. T Berhad recorded the transactions for A Sdn Bhd transaction using the cost method. Prepare the consolidation adjustments journal entries for T Berhad.

Reference no: EM133168650

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