At the beginning of 2014, Parling Food Services acquired a 90% interest in Simmons' Orchards...
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Accounting
At the beginning of Parling Food Services acquired a interest in Simmons' Orchards when Simmons' book values of identifiable net assets equaled their fair values. On December Simmons declared dividends of $ and the dividends were unpaid at yearend. Parling had not recorded the dividend receivable at December A consolidated working paper entry is necessary to
enter $ dividends receivable in the consolidated balance sheet.
reduce the dividends payable account by $ in the consolidated balance sheet.
eliminate the dividend payable account from the consolidated balance sheet.
enter $ dividends receivable in the consolidated balance sheet.
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