With solution 4. On January 2, 2020, Pare Co. purchased 75% of Kidd Co.'s outstanding common stock.Selected balance sheet data at December 31,2020 is as follows:PareKiddTotal assets420,000180,000Liabilities120,00060,000Common stock100,00050,000Retained earnings200,00070,000Total420,000180,000During 2009, Pare and Kidd paid cash dividends of P25,000 and P5,000, respectively, to theirstockholders. There were no other intercompany transactions.a. In its December 31, 2020 consolidated statement of retained earnings, what amountshould Pare report as dividends paid?b. In Pare's December 31, 2020 consolidated balance sheet, what amount should bereported as minority interest in net assets?

When a company buys majority of shares in another company, the other company becomes the minority…

a. In its December 31, 2020 consolidated statement of retained earnings, what amount should Pare report as dividends paid? b. In Pare's December 31, 2020 consolidated balance sheet, what amount should be reported as minority interest in net assets?

a. In its December 31, 2020 consolidated statement of retained earnings, what amount should Pare report as dividends paid? b. In Pare's December 31, 2020 consolidated balance sheet, what amount should be reported as minority interest in net assets?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 25E

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Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73
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