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Monster Co Ltd Owns 100 Per Cent of the Issued

Question 30

Multiple Choice

Monster Co Ltd owns 100 per cent of the issued shares of Mini Co Ltd. Mini Co Ltd declared a dividend of $100,000 for the period ended 30 June 2004. Monster Co Ltd accrues dividends when they are declared by its subsidiaries. What elimination entry would be required to prepare the consolidated financial statements for the group for the period ended 30 June 2005?


A) Monster Co Ltd owns 100 per cent of the issued shares of Mini Co Ltd. Mini Co Ltd declared a dividend of $100,000 for the period ended 30 June 2004. Monster Co Ltd accrues dividends when they are declared by its subsidiaries. What elimination entry would be required to prepare the consolidated financial statements for the group for the period ended 30 June 2005? A) B) C) D) E) None of the given answers.
B) Monster Co Ltd owns 100 per cent of the issued shares of Mini Co Ltd. Mini Co Ltd declared a dividend of $100,000 for the period ended 30 June 2004. Monster Co Ltd accrues dividends when they are declared by its subsidiaries. What elimination entry would be required to prepare the consolidated financial statements for the group for the period ended 30 June 2005? A) B) C) D) E) None of the given answers.
C) Monster Co Ltd owns 100 per cent of the issued shares of Mini Co Ltd. Mini Co Ltd declared a dividend of $100,000 for the period ended 30 June 2004. Monster Co Ltd accrues dividends when they are declared by its subsidiaries. What elimination entry would be required to prepare the consolidated financial statements for the group for the period ended 30 June 2005? A) B) C) D) E) None of the given answers.
D) Monster Co Ltd owns 100 per cent of the issued shares of Mini Co Ltd. Mini Co Ltd declared a dividend of $100,000 for the period ended 30 June 2004. Monster Co Ltd accrues dividends when they are declared by its subsidiaries. What elimination entry would be required to prepare the consolidated financial statements for the group for the period ended 30 June 2005? A) B) C) D) E) None of the given answers.
E) None of the given answers.

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