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Case Study: Calculation
XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March:
1st - XYZ Limited paid rent $1000 to ABC Limited for the month of March.
2nd - XYZ Limited declared a dividend of $1,500 to ABC Limited.
13th - XYZ Limited paid the dividend to ABC Limited declared on 2nd March.
14th - ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month.
15th - 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:
Question 1: Provide consolidation worksheet adjusting entries for each of the transactions
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