Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What dividend was paid in 2020 and 2019? How would the Undistributed earning be include on the Statement of Cash Flows and what amount each
What dividend was paid in 2020 and 2019? How would the Undistributed earning be include on the Statement of Cash Flows and what amount each year?
F8.22 HC Sachen for each of the three years Long-term Equity Investments. The annual report of the Lamaca Company discloses the following amounts on its consolidated statement of income: 2020 2019 2018 Equity in eamings of unconsolidated affiliates. $881 $644 $563 Further, on Lamia's consolidated balance sheet, it reports the following amounts for its investment in its unconsolidated alliliates: 2020 2019 2018 Investment in unconsolidated affiliates $13,650 $12,885 $12,400 Calculate the amount of cash dividends received by The Lamaca Company from its unconsolidated affiliates in 2019 and 2020. Calculate the adjustment to net income that appears on Lamaca's statement of cash flow in 2019 and 2020 for "undistributed camings of unconsolidated affiliates
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