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Q4. From the Given information: Calculate the Book Value and pass Basic Elimination entry: (1...

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Accounting

Q4. From the Given information: Calculate the Book Value and pass Basic Elimination entry:

(1 mark)

  1. PQR Ltd owns 100% of STV Ltd.
  2. STV Ltd s net income for 20X4 is SAR 250,000
  3. STV Ltd.s declares dividends of SAR 36,000 during 20X4.
  4. STV Ltd has 20,000 shares of $5 par stock outstanding that were originally issued at $15 per share.
  5. STV Ltd.s beginning balance in Retained Earnings for 20X4 is SAR 150,000

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