On January 1, 2020, Pail Corporation acquired 75 percent of Sand Company's common stock for $525,000 cash. The fair value of the noncontrolling interest at that date was determined to be $175,000. For the year ended December 31, 2020 Pail reported Dividends of $11000 on its general ledger. Sand reported Dividends of $14000 on its general ledger. What amount of DIVIDENDS would be reported on the 12/31/20 consolidated Statement of Retained Earnings? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000.

On January 1, 2020, Pail Corporation acquired 75 percent of Sand Company's common stock for $525,000 cash. The fair value of the noncontrolling interest at that date was determined to be $175,000. For the year ended December 31, 2020 Pail reported Dividends of $11000 on its general ledger. Sand reported Dividends of $14000 on its general ledger. What amount of DIVIDENDS would be reported on the 12/31/20 consolidated Statement of Retained Earnings? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000.

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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