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Question - Case Study: Calculation
XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March:
1 - XYZ Limited paid rent to ABC Limited for the month of March.
2 - XYZ Limited declared a dividend of $1,500 to ABC Limited.
13 - XYZ Limited paid the dividend to ABC Limited declared on 2nd March.
14 - ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month.
15 - 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.
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