User Account

All Pages

Which the consolidation worksheet entries to eliminate

Assignment Help Financial Accounting
Reference no: EM132994564

Problem 1: Sam Ltd owns all the shares of Budi Ltd. On 1 July 2020, Budi Ltd provided a loan to Sam Ltd for $100,000 with $2,000 interests to be payable annually at the year end. The consolidation worksheet entries to eliminate the effects of this intragroup transactions for the year ended 30 June 2021 would include all the following except:

1. Dr. Interest expense $2,000
2. Cr. Loan receivable $100,000
3. Dr. Interest revenue $2,000
4. Dr Loan payable $100,000

Reference no: EM132994564

Questions Cloud

How much cash was paid for inventory purchases : How much cash was paid for inventory purchases? The data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020.
Benefit of training employees : Identify an option that is NOT a benefit of training employees to the organisation.
Discuss commander alfonso level of emotional intelligence : Discuss commander alfonso's level of emotional intelligence in terms of the four components listed in chapter. what advice would you give him?
Determine the accrual basis net income of carly company : Determine the accrual basis net income of Carly Company for the current year. The Carly Company uses cash-basis accounting for their records.
Which the consolidation worksheet entries to eliminate : Which the consolidation worksheet entries to eliminate the effects of this intragroup transactions for the year ended 30 June 2021 would include?
Find point of indifference : Find point of indifference. XYZ Corporation is comparing two different capital structures: an all-equity plan (Plan 1) and a levered plan (Plan 2).
Examine the difference between management and leadership : Examine the difference between management and leadership.
Which entries correctly reflects tax effect for intragroup : Which entries correctly reflects the tax effect for this intragroup transaction? Danish Ltd owns all the shares in Bikki Ltd. Danish Ltd sells land to Bikki Ltd
Discuss five legal and ethical emerging issues : Mention and discuss any five legal and ethical emerging issues and trends in the use of a financial information system in the modem business environment

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find what is maximum price should be willing to pay

If you require a 5.75% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for this bond?

  Determine the cost formula for shipping expense

Faulk Company has noticed considerable fluctuation in its shipping expense from month to month, as shown by the data below: Using the high-low method, determine the cost formula for shipping expense. If Faulk ships 74 units during a month, what would..

  What should BigCo expect to pay for PrivCo per share

BigCo expects to pay at least a 40% premium to the firm's estimated market value. What should BigCo expect to pay for PrivCo per share

  What basis will W take in the partnership

If X sells her partnership interest to W for $30,000 cash, what is her gain or loss, and what is its character? What basis will W take in the partnership

  Why do some large corporations forgo dividends

In regard to dividends and earnings, when and how should one and other owners be rewarded? What are examples of each type of dividend?

  Explain what impact this decision will have on

Management decides to increase sales for the current quarter by filling all customer orders. Explain what impact this decision will have on: Days receivable for the current quarter.

  Find the accounting rate of return

Janet Cara-Van Company plans to acquire equipment costing USD 600,000.00. Find the accounting rate of return

  What is the net present value of the j-mix

Incremental cash flows of $589,472.00 each year for the next five years. The cost of capital is 11.83%. What is the net present value of the J-Mix 2000?

  Describe a detailed multi-step income statement

Describe detailed multi-step income statement with brief explanation of 700 words. Assume a 25 percent tax rate. Excel spreadsheet and submit your explanation.

  Find and calculate profit or loss

Calculate profit or loss. Give your answer in dollars and cents to the nearest cent. If answer is a loss then place a negative sign in front of answer.

  What is the compound growth rate in the prices of shares

Kioko bought KCB shares 15 years ago for sh. 10 it is now selling at sh. 27.60. What is the compound growth rate in the prices of shares?

  Determine the average check per guest

Based on the following, determine the average check per guest. Dining room $128,880 9,206 and Bar-Lounge $66,586 5,202

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd