Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 9 0.5 points Save Ans Vivian Ltd acquired a 30% investment in Nori Ltd for $40,000. Vivian Ltd is a parent entity who prepares

image text in transcribed

Question 9 0.5 points Save Ans Vivian Ltd acquired a 30% investment in Nori Ltd for $40,000. Vivian Ltd is a parent entity who prepares consolidated financial statements. During the year ended 30 June 2021, Nori Ltd declared and paid a dividend of $8,000. Which of the following is part of the consolidation adjustment entries to record the dividend declared by Nori Ltd? Dr. Share of profit of associate Cr. Dividend revenue Cr. Investment in associate Dr. Cash

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

Recommended Textbook for

Sound Investing, Chapter 21 - Cash From Operations Cons

Authors: Kate Mooney

1st Edition

0071719431, 9780071719438

More Books

Students also viewed these Accounting questions