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Prepare the consolidation elimination journal entry for year

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Reference no: EM132802981

The following account balances existed at 30 June 2020:

                                        Sun Ltd            Moon Ltd

Dividend revenue                $ 18 000         -

Dividend declared              $ 77 900           $ 9 000

Dividend receivable             $ 6 200              -

Dividend payable                   $ 50 000            $ 2 000

Problem 1: Prepare the consolidation elimination journal entry for the year ending 30 June 2020.

Reference no: EM132802981

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