Mooloolaba Limited Owns 90% of the Share Capital of Maroochydore

Multiple Choice

Mooloolaba Limited owns 90% of the share capital of Maroochydore Limited. Maroochydore Limited paid a dividend of $40 000 during the financial period. The adjustment entries in the consolidation worksheet for the dividend include which of the following?

A) DR Dividend revenue $36 000
B) DR Dividend revenue $40 000
C) DR Dividend payable $36 000
D) DR Dividend receivable $40 000