4. On January 2, 2020, Pare Co. purchased 75% of Kidd Co.'s outstanding common stock.Selected balance sheet data at December 31,2020 is as follows:PareKiddTotal assets420,000180,000Liabilities120,00060,000Common stock100,00050,000Retained earnings200,00070,000Total420,000180,000During 2009, Pare and Kidd paid cash dividends of P25,000 and P5,000, respectively, to theirstockholders. There were no other intercompany transactions.a. In its December 31, 2020 consolidated statement of retained earnings, what amountshould Pare report as dividends paid?b. In Pare's December 31, 2020 consolidated balance sheet, what amount should bereported as minority interest in net assets?

Name: 4. On January 2, 2020, Pare Co. purchased 75% of Kidd Co.'s outstandi
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Description: 4. On January 2, 2020, Pare Co. purchased 75% of Kidd Co.'s outstanding common stock.Selected balance sheet data at December 31,2020 is as follows:PareKiddTotal assets420,000180,000Liabilities120,00060,000Common stock100,00050,000Retained earnings20

Calculation: We need to calculate the amount that Pare should report as common stock in the…

Answered: 4. On January 2, 2020, Pare Co. pur…

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4. On January 2, 2020, Pare Co. pur Selected balance sheet data at Dec Total assets Liabilities Common stock Retained earnings Total During 2009, Pare and Kidd paid ca

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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