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Black Ltd owns all the shares in White Ltd. On 30 June 2021, White Ltd has dividend declared of $44,000 and dividend paid of $32,000
Black Ltd owns all the shares in White Ltd. On 30 June 2021, White Ltd has dividend declared of $44,000 and dividend paid of $32,000 while Black Ltd has dividend declared of $71,000 and dividend paid of $60,000. What consolidation adjusting entry is required to eliminate the dividend payable on 30 June 2021?
Group of answer choices
Cr Dividend payable $115,000
Dr Dividend payable $44,000
No consolidation entries are required
Dr Dividend payable $71,000
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