Answered step by step
Verified Expert Solution
Link Copied!

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

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

Financial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

5th Edition

9781118560952, 1118560957, 978-0470239803

More Books

Students also viewed these Accounting questions

Question

Pleasehelpwiththefollowingquestion:...

Answered: 1 week ago

Question

How will these issues affect the grade levels you will teach?

Answered: 1 week ago