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On 1/3/2014 EEP buys 30% of Entity B for Br120 million (Assume through this interest EEP gained Joint control over B). Entity B's profit = Br80 million for the year ended 31/12/2014 (including Br66.67million from March to Dec). On 20/12/2014 Entity B declared a dividend of Br100 million. Entity B reported loss of Br400 million for year ended 31/12/2015 and declared no dividend. It also reported profit of Br300 million for year ended 31/12/2016 and declared no dividend.
Required:
Question 1: Record all the necessarily journal entries on the book of EEP as of
Option a. March 1 2014
Option b. December 20,2014
Option c. December 31,2014
Option d. December 31,2015
Option e. December 31,2016
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