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Stevie Ltd owns 100% of the issued ordinary share capital of Wright Ltd. Wright Ltd has 100 million ordinary shares on issue. During the year

Stevie Ltd owns 100% of the issued ordinary share capital of Wright Ltd. Wright Ltd has 100 million ordinary shares on issue. During the year ended 31 March 20X1, Wright Ltd declared and paid a dividend of $0.15 per share from post-acquisition profits. What is the consolidation elimination entry (if any) for this financial year? Select one: A. Accounts Debit $ Credit $ Dividend revenue 15,000,000 Dividend appropriation 15,000,000 -- B. No elimination entry is required because the dividend is a post-acquisition dividend. -- C. Accounts Debit $ Credit $ Investment in Wright Ltd. 15,000,000 Dividend appropriation 15,000,000 -- D. Accounts Debit $ Credit $ Dividend appropriation 15,000,000 Dividend revenue 15,000,000 --

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