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Accounting Record the eliminating entries for the following intercompany transactions : 1- P company acquired 80 % of W company for 50,000 JD. Equity of
Accounting Record the eliminating entries for the following intercompany transactions : 1- P company acquired 80 % of W company for 50,000 JD. Equity of W is: common shares 80,000 JD , other capital 15,000 JD, RE ( 15,000 ) JD. 2 - P company advanced 3000 to S company and 2000 to R company, but P company did not record the advances to R company yet . 3 Company P invested 250,000 JD in bonds , of which there is 90,000 JD investment in bonds issued by Company 5. The interest on bonds are 10,000 JD but 5 company did not record the accrued interest yet
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