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Question - During the period ending 30 June 2019, (1/07/2018 to 30/06/2019) the following events occurred in relation to Snowy Limited:
(a) September 25. Annual general meeting approved the final dividend of $10 000.
(b) September 30. Snowy Ltd paid the final dividend to shareholders.
(c) January 10. Snowy Ltd paid an interim dividend of $8 000.
(d) January 10. $10 000 transferred from retained earnings to general reserve.
(e) February 18. $4000 transferred from asset revaluation surplus to retained earnings.
Required - Make the journal entries to record the above transactions.
During the remainder of the year, Ramirez generates revenues of $600,000 and expenses of $360,000 and paid no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?
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