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Assume that a parent Corporation had appropriately accounted for the December 31, 2020, business combination with its wholly owned subsidiary and that subsidiary had a

Assume that a parent Corporation had appropriately accounted for the December 31, 2020, business combination with its wholly owned subsidiary and that subsidiary had a net income of $80,000 for the year ended December 31, 2021, Assume further that on December 20, 2021, subsidiarys board of directors declared a cash dividend of $0.60 a share on the 50,000 outstanding shares of common stock owned by Parent. subsidiarys journal entry to record the dividend declaration is:

a. Intercompany Dividends Payable credit $20,000 and cash credit $20,000.

b. Dividends Declared debit $ 20,000 and Intercompany Dividends Payable credit $20,000.

c. Dividends Declared debit $ 20,000 and Intercompany Dividends Payable credit $20,000.

d. Dividends Declared debit $ 30,000 and Intercompany Dividends Payable credit $30,000.

On November 10, 2020, Maher, Saher, and Taher, partners of Maher, Saher, & Taher LLP, shared net income and losses in a 4 : 2 : 1 ratio respectively. In liquidation of the LLP, the Capital per unit of income sharing ratio were: $10,000, $12,000, $15,000 respectively. The capital balance of Taher before liquidation was:

a. $15,000.

b. $40,000.

c. $24,000.

d. $37,000.

Please please, I don't have enough time, help me

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