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Make consolidation worksheet adjusting entries

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Reference no: EM132575840

Question - 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 - Make consolidation worksheet adjusting entries for each of the transactions listed above.

Reference no: EM132575840

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