Justin acquires 90% of the voting common shares of Stevens on January 1, 2019. In 2010, Justin pays dividends of $350,000 and Stevens pays dividends of $25,000. a) How much is the controlling interest in subsidiary dividends? b) How much is consolidated dividends? c) Prepare worksheet entry D for this situation.

Justin acquires 90% of the voting common shares of Stevens on January 1, 2019. In 2010, Justin pays dividends of $350,000 and Stevens pays dividends of $25,000. a) How much is the controlling interest in subsidiary dividends? b) How much is consolidated dividends? c) Prepare worksheet entry D for this situation.

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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Question

Justin acquires 90% of the voting common shares of Stevens on January 1, 2019. In 2010, Justin pays dividends of $350,000 and Stevens pays dividends of $25,000.

a) How much is the controlling interest in subsidiary dividends?

b) How much is consolidated dividends?

c) Prepare worksheet entry D for this situation.

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