On January 1, 2021 Pail corp acquired 80 percent of Sand Company's stock fo 640,000 cash.  The fair value of the noncontrolling interest at that date was determined to be 160,000. For the year ended December 31 2021 Pail reported dividends of 46,000 on its general ledger.  Sand reported devidends of 37000 on its general ledger.  What amount of dividends would be reported on 12/31/21 consolidated statement of retained earnings?

Q: For 2018, Sabil Corporation earned net income of $480,000 and paid dividends of $18,000. At January…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: On January 2, Matthews Corporation acquired 20% of the outstanding common stock of Dennehy Company…

A: Solution : Cost of investment = $450,000 Net income of Dennehy = $90,000 Cash dividend paid by…

Q: Novak Corporation's December 31, 2025, trial balance includes the following accounts: Investment in…

A: The Stockholders' Equity section, also known as Shareholders' Equity or Owners' Equity, is a section…

Q: Stellar Co. acquired 25% of the 500,000 shares of outstanding common stock of Overload Inc. on…

A: Securities available for sale are those debt or equity securities investments made by the company…

Q: TMC Company reported net income of P700,000 for 2020. The entity declared and paid dividend of…

A: Retained earnings on December 31, 2019 = Retained earnings on January 1, 2019 + net income -…

Q: On January 1, 2XX0, Waterfall Inc. acquired a 10% interest in Junior Corp. On January 1, 2XX1,…

A: Investment in associates refers to the type of investment that the firm makes in another company…

Q: Tuchel Company held 80% of the common stock of Chelsea Inc. and 40% of this subsidiary's…

A: CONSOLIDATED fiscal reports are budget summaries of a substance with numerous divisions or…

Q: For 2022, how much is the consolidated net income attributable to parent shareholders' equity?

A:

Q: On October 6, 2021, Dark Company acquired 70% of the common stock of Knight Company. The separate…

A: Consolidated financial statements are the financial statements of the group which includes the…

Q: On December 31, 2020, Splish Company purchased a controlling interest in Novak Company for…

A: A NCI is an ownership position wherein a stakeholder/shareholder owns less than 50% of outstanding…

Q: Accounts Amounts a. Net income $ 528,000 b. Retained earnings, 1/1/23 $ (1,121,000) c. Patented…

A: Consolidation refers to the process of combining the financial statements of two or more separate…

Q: On 1/1/2019, P Co acquired 75% of S Co's outstanding common stock for cash. The fair value of the…

A: Non-Controlling Interest: It implies a minority interest whereby the shareholders own less than 50%…

Q: On January 1, 2021, ABC Co. acquired 80% interest in XYZ, Inc. by 292,000 issuing 5,000 shares with…

A: The question is related to Consolidated Financial Statements. The parent company (ABC Co.) acquired…

Q: A Co. acquired 60% of the outstanding shares of B Co. on January 2, 2021. A Co. acquired it at book…

A: A consolidated income statement is prepared by the parent company which combines the standalone…

Q: Following are separate financial statements of Michael Company and Aaron Company as of December 31,…

A: Consolidation is an activity in which financial statements of a parent and its subsidiary should be…

Q: Heidebrecht Design acquired 25% of the outstanding common stock of Carla Vista Company on January 1,…

A: Company can make investments in the common stock of another company. The investor company receives…

Q: Boulter, Incorporated, began business on January 1, 2024. At the end of December 2024, Boulter had…

A: The objective of the question is to determine how the losses from the investments in debt securities…

Q: Parent Company acquired 18,000 shares of Company's ordinary share on January 1, 2021, for payment of…

A: Under the full goodwill approach, goodwill arising in a business combination is determined as the…

Q: On January 1, 2020, Parent Company acquired 80% of the common stock of Subsidiary Company for…

A: A fair value allocation and goodwill schedule is a schedule that presents the calculation of the…

Q: On October 15, 2020, the Skyline Company received a liquidating dividend of P100,000 from David…

A: Formula: Dividend income = Total liquidating dividend x Ownership Percentage in the company.

Q: cash. Oh thls date, the equity or S Company Jahuary 3, 2019, P Company acquired 70% Interest in S…

A: Consolidated equity = consolidated total assets- consolidated total liabilities+Deposit for future i…

Q: In the December 21, 2021 consolidated statement of financial position, the net income attributable…

A: In the consolidated financial statement, the unrealized gain and loss in the inter-group transaction…

Q: Prepare journal entry(ies) needed by Andreas Company to record the investment in Rafif Company from…

A: The investment on which has a significant influence by the company is the required to be journalized…

Q: 1. Husain Corporation has the following account it trial balance at the end of year: Retained…

A: Equity section means section that shows the amount which belong to the owner of the company. It…

Q: On January 1, 2021, ABC Co. acquired 80% interest in XYZ, Inc. by issuing 5,000 shares with fair…

A: At the time of acquisition identified assets and liabilities are recorded in the books of the parent…

Q: The balance sheets of E Ltd. and J Ltd. on December 30, Year 6, were as follows: Cash and…

A: Consolidation is an activity in which financial statements of a parent and its subsidiary should be…

Q: 292,000 Total liabilities issuing 5,000 shares with fair value of P60 per share and par value of P40…

A: Retained Earnings are part of the organization’s profit which is saved by the company in order o…

Q: On 1 July 2021, James Ltd acquired all the issued shares of Dean Ltd for $350,000. At this date, the…

A: Introduction: Acquisition analysis is done in three main steps: planning, search and screening, and…

Q: Heritage Ltd. was organized on January 2, 2020. The following investment transactions and events…

A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…

Q: 2019 $ 1,064,0 ( 714,00 ( 126,00 ( 42,00

A: Dean Inc.…

Q: in A net identifiable assets. XYZ's assets and liabilities on January 1, 2021 approximate their fair…

A: Solution- To calculate the goodwill the fair value of asset and liabilities of the acquired business…

Q: Wheaton Inc. had the following balances as of December 31, 2021: -Contributed surplus- common share…

A: Shareholder's Equity: Shareholders' equity (also known as corporate net worth) is a measure of how…

Q: Chur Company acquired a 40% interest in Flip company for 1,700,000 on January 1, 2020. The…

A: Investment in associate company will be recorded using the equity method or fair value method. The…

Q: A Co. acquired 60% of the outstanding shares of B Co. on January 2, 2021. A Co. acquired it at book…

A: The part of a company's equity or ownership held by individuals or entities other than the…

Q: Acquired 15% of the 240,000 shares of common stock of Oriole Company July 1, Oriole Company declared…

A: Journal entries are used to keep a thorough and systematic record of a company's financial…

Q: P Co paid $140,000 for 70% interest in S CO. on 1/1/2019, when S had Capital Stock of $50,000 and…

A: The consolidation of financial statements involves combining the financial results of a parent…

Q: On January 1, 2019, ALUCARD Co. acquired 80% interest in BERTHOLD, Inc. by issuing 5,000 shares with…

A: The consolidated financial statement refers to the financial statement prepared by the parent…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.