Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Review the Retained Earnings Statement (below) and expia in the consolidated balance. why dividend delared for Sesnor Co is $0 Subsidiary Debit Retained Earnings 1/1
Review the Retained Earnings Statement (below) and expia in the consolidated balance. why dividend delared for Sesnor Co is $0 Subsidiary Debit Retained Earnings 1/1 Beg Of Current Year Plexi Co. $ 3,850,000 Sesnor Co. 1,200, $ 3,200,000,(2) Net Income from Divident Declared S 450,000 Plexi Co. Sesnor Co. 450,000 s212,500 () $ 37,500 250,000 12343380 Retained Earnings 12/31 End of Current Year omplete the balance s NCI Debit Credit PlexiCoSesnor Co Assets $450,000260,000 $750,000$ 450,000 $ 875,000950,000 $ 5,700,000 $ $ 3,850,000 $ 3,450,000 S250,000 $ 1,000,000 $150,000 S250,000 Recei Investment in Sub-Sesnor Co. Uabilities $ 4,244,500 $ 1,150,000 25,000 5 5,242,500 $1,475,000 Other Liablities Total Liabilities Plexi Co. Sesnor Co. Plexi Co. 00,000 $ 4,132 500 3,885,000 Total Equity 360,000 Review the Retained Earnings Statement (below) and expia in the consolidated balance. why dividend delared for Sesnor Co is $0 Subsidiary Debit Retained Earnings 1/1 Beg Of Current Year Plexi Co. $ 3,850,000 Sesnor Co. 1,200, $ 3,200,000,(2) Net Income from Divident Declared S 450,000 Plexi Co. Sesnor Co. 450,000 s212,500 () $ 37,500 250,000 12343380 Retained Earnings 12/31 End of Current Year omplete the balance s NCI Debit Credit PlexiCoSesnor Co Assets $450,000260,000 $750,000$ 450,000 $ 875,000950,000 $ 5,700,000 $ $ 3,850,000 $ 3,450,000 S250,000 $ 1,000,000 $150,000 S250,000 Recei Investment in Sub-Sesnor Co. Uabilities $ 4,244,500 $ 1,150,000 25,000 5 5,242,500 $1,475,000 Other Liablities Total Liabilities Plexi Co. Sesnor Co. Plexi Co. 00,000 $ 4,132 500 3,885,000 Total Equity 360,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started