Question

XYZ Limited is a subsidiary of ABC Limited. The following transactions took between them during the month of March:

1 - XYZ Limited paid rent $1000 to ABC Limited for the month of March.

2 - XYZ Limited declared a dividend of $1,500 to ABC Limited.

13 - XYZ Limited paid the dividend to ABC Limited declared on 2^nd March.

14 - ABC Limited lends $10,000 to XYZ Limited paying interest at 10% every month.

15 - 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:

Provide consolidation worksheet adjusting entries for each of the transactions listed above.