Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Smooth Paints Co. (SPC) owns 75% of the equity shares of Enamel Works Ltd (EWL) and 20% of the equity shares of Fence Magic Co.
Smooth Paints Co. (SPC) owns 75% of the equity shares of Enamel Works Ltd (EWL) and 20% of the equity shares of Fence Magic Co. (FMC). SPC has a fiscal year-end of 30 June. In its consolidated statements of financial position as of 30 June 20X4 and 30 June 20X5, NCI in EWL is $150,500 and $195,250, respectively. Total comprehensive income attributable to NCI is $85,600 for the year ended 30 June 20X5. How much should be shown in the consolidated statement of cash flows, within cash flows pertaining to financing activities, relating to the dividends paid to the NCI? Do not include symbols, commas, or letters in your response
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