Essay
On December 31,2019,Jean World Corporation recorded the following journal entry relating to its investment in 9,000 shares of common stock of Soda Corporation.
At the end of 2019,Soda Corporation reported net income of $120,000.
Earlier in the year,Soda declared and paid dividends of $18,000.
A.What method is being used to account for this investment?
B.What is the total number of shares outstanding of Soda's common stock?
Correct Answer:
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A.Equity method.
B.$120,000 × Percentage...View Answer
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Correct Answer:
Verified
B.$120,000 × Percentage...
View Answer
Unlock this answer now
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