On 31 December 2018, A Ltd acquired 80% of the shares in B Ltd. additional info: A
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On 31 December 2018, A Ltd acquired 80% of the shares in B Ltd.
additional info:
A Ltd record a long term loan($800,000) on the balance sheet with the entry of Other non-current assets.
The terms of the loan to B Ltd require 6% annual interest payments. The loan was made on 1 January 2020 and interest is paid on 31 December each year.
Qusetion
Does the long term loan and interest eliminate for the period 31 December 2020.
How to prepare the adjustment for the consolidation journal entries for UH Ltd
Expert Answer:
Answer rating: 100% (QA)
Chegg Septxlsx Microsoft Excel Cla Home Insert Page Layout Formulas Data Review View X AutoSum Cut E... View the full answer
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