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Pass all journal entries On the first day of a financial year, A Ltd. invested in the equity share capital of B Ltd. at a

Pass all journal entries

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On the first day of a financial year, A Ltd. invested in the equity share capital of B Ltd. at a cost of Rs. 1,00,000 to acquire 25% share in the voting power of B Ltd. A Ltd. has concluded that B Ltd. is an associate of A Ltd. At the end of the year, B Ltd. earned profit of Rs. 10,000 and other comprehensive income of Rs. 2,000. In that year, B Ltd. also declared dividend to the extent of Rs. 4,000. Pass necessary entries in the books of A Ltd. to account for the investment in associate

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