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Prepare the consolidation adjustments journal entries

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Question - DS Berhad acquired 40% of VW on 1 December 2020, DS Berhad used cost method to record VW transactions. The retained earnings at the date of acquisition was RM40,000 and on 31 December 2020 was RM60,000. During the year 2021, VW loss after tax was RM70,000. On 30 November 2021, VW paid dividend of RM30,000 to the shareholders although reported loss for the current year. Prepare the consolidation adjustments journal entries for DS Berhad.

Reference no: EM133171750

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