Question
On January 1, 2020, Pail Corporation acquired 90 percent of Sand COmpany's common stock for 810,000 cash. The fair value of the non controlling interest
On January 1, 2020, Pail Corporation acquired 90 percent of Sand COmpany's common stock for 810,000 cash. The fair value of the non controlling interest at that date was determined to be $90,000.
For the year ended December 31, 2020 Pail reported dividends of $49000 on its general ledger. Sand reported dividends of 28500 on its general ledger.
What amount of DIVIDENDS would be reported on the 12/31/2020 consolidate Statement of Retained Earnings?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
