Reference no: EM132955173
Question - The following information has been taken from the consolidation worksheet of Maple Company and its 60% owned subsidiary, Syrup Company.
(1) Maple reports a loss on sale of land (to an outside party) of $5,000. The land cost Maple $20,000.
(2) Maple paid dividends of $15,000.
(3) Syrup paid dividends of $10,000.
(4) Excess acquisition-date fair value over book value amortization was $6,000.
(5) Consolidated accounts receivable decreased by $8,000.
Required - How much (and in what section) will dividends be reported in the consolidated statement of cash flows?
A. $25,000; Financing section
B. $19,000; Investing section
C. $21,000; Financing section
D. $21,000; Investing section
E. $19,000; Financing section
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