How does the existence of a noncontrolling interest affect the preparation of a consolidated statement of cash flows?
What will be an ideal response?
The noncontrolling interest's share of the subsidiary's income would not appear in the consolidated statement of cash flows. Dividends paid to the noncontrolling interest represent cash outflows for the combined entity to outside parties, and should be shown as cash flows from financing activities.
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At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $231,000 and Total Liabilities of $17,800 and Total Paid-in capital of $71,200. During the year, the company reported total revenues of $270,000 and expenses of $209,000. Also, dividends during the year totaled $56,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be:
A. $200,000. B. $147,000. C. $230,000. D. $141,000. E. $144,000.
Brie wants one of Cari's purebred Dalmations. Brie signs an instrument in which she promises to pay Jasmine for a puppy. The instrument will be negotiable if it is payable in
a. goods of equal market value. b. money. c. any of the choices. d. shares of stock.
_________is the use of a neutral third party to encourage and assist parties to voluntarily resolve their dispute. The person conducting the process is called a
Fill in the blank(s) with correct word
To satisfy the statute of frauds, the person who wants to bring the lawsuit must sign a memorandum
Indicate whether the statement is true or false