Multiple Choice
Zhang Corp.owns 40% of Magnor Company's common stock.Magnor pays $97,000 in total cash dividends to its shareholders.Zhang's entry to record the cash dividend received from Magnor would include a:
A) Debit to Dividends for $97,000.
B) Debit to Dividends for $38,800.
C) Debit to Equity Method Investments for $97,000.
D) Credit to Equity Method Investments for $38,800.
E) Credit to Cash for $97,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q64: Foreign exchange rates fluctuate due to changing
Q127: A company had a profit margin of
Q131: At acquisition,debt securities are:<br>A)Recorded at their cost,plus
Q135: On February 15,Jewel Company buys bonds of
Q140: Trading debt securities are reported as long-term
Q141: On February 15,Jewel Company buys 7,000 shares
Q143: Rainier Importers purchases automotive parts from Austria.Prepare
Q161: Marshall Company sold supplies in the amount
Q163: Land used in the company's operations is
Q179: Canberry Corporation had net income of $80,000,beginning