Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

34) Entry D records a) dividends paid by the parent to the subsidiary. b) the reversal of all dividends declared by the subsidiary. c) the

image text in transcribed
image text in transcribed
34) Entry D records a) dividends paid by the parent to the subsidiary. b) the reversal of all dividends declared by the subsidiary. c) the reversal of the parent's share of dividends declared by the subsidiary. d) debts owed by the subsidiary to the parent. Questions 35 through 45 refor to the missing amounfs on the worksheet that are numbered 1 through 13. 35) \#1 and $5, consolidated net income attributable to the noncontrolling interest, should be a credit of a) $13,500. b) $21,500. c) $65,200. d) $80,000, 36) \#2, dividends declared pertaining to the noncontrolling interest, should be a debit of a) $25,000. b) $22,500. c) $2,500. d) $0. 37) 113 , the beginning balance for the noncontrolling interest, should be a credit of a) $85,500. b) $109,900. c) $195,000. d) $200,000. 38) \#4 and \#11, the ending balance for the noncontrolling interest, should be a credit of a) $200,000. b) $195,000. c) $206,000. d) $197,500. 39) \#6, consolidated net income attributable to the parent company, should be a credit of a) $437,000. b) $652,000. c) $357,000. d) $1,843,000. 40) \#7, the net income credited to consolidated retained earnings, should be a) $437,000. b) $652,000. c) $357,000. d) $1,843,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions