ADVANCED FIN. ACCT.(LL)-W/CONNECT
ADVANCED FIN. ACCT.(LL)-W/CONNECT
12th Edition
ISBN: 9781264582129
Author: Christensen
Publisher: MCG CUSTOM
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Chapter 9, Problem 9.19P
To determine

Subsidiary stock dividends:the dividends payable on shares of the subsidiary common stock require slight changes in the consolidation entries used in preparing consolidated financial statements. Because stock dividends are issued proportionally to all common stockholders, the relative interest of controlling and non-controlling does not change as a result of stock dividends.

In the preparation of consolidated financial statements for the period of issue, dividends by subsidiary should be eliminated along with the increased common stock and interest additional paid-in capital, if any. As only parent’s dividends are viewed as dividends of the consolidated entity.

The consolidation entries required to prepare consolidated balance sheet for January 1. 20X8, for each of the alternative transactions.

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Thompson, Inc. had accounts receivable of $580,000 and an allowance for doubtful accounts of $23,400 just before writing off as worthless an account receivable from Sullivan Company of $2,750. The net realizable value of the accounts receivable before and after the write-off was: A. $556,600 before and $556,600 after. B. $603,400 before and $600,650 after. C. $556,600 before and $553,850 after. D. $580,000 before and $577,250 after.
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Stockholders Equity: How to Calculate?; Author: Accounting University;https://www.youtube.com/watch?v=2jZk1T5GIlw;License: Standard Youtube License