Solved: Effects of dividend on financial statements, Financial Accounting

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Effects of dividend on financial statements

Response to the following problem:

Superior Company owns 40% of the outstanding stock of Bernard Company. During 2016, Bernard paid a $100,000 cash dividend on its common shares. What effect did this dividend have on Superior's 2016 financial statements?

If possible, please give examples to better understand your response.

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Financial Accounting: Effects of dividend on financial statements

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