Blanton Corporation purchased 35% of the outstanding shares of common stock of Worton Corporation as a long-term investment. Subsequently, Worton Corporation reported net income and declared and paid cash dividends. What journal entry would Blanton Corporation use to record the dividends it receives from Worton Corporation?
a. debit Investment in Worton Corporation Stock; credit Cash
b. debit Cash; credit Dividend Revenue
c. debit Investment in Worton Corporation Stock; credit Income of Worton Corporation
d. debit Cash; credit Investment in Worton Corporation Stock
d
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Which of the following conditions is applicable to all 501(c)(3) organizations?
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Operating leverage refers to
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Which of the following is the largest Asian American segment?
A. Chinese B. Filipino C. Vietnamese D. Korean E. Japanese
Which of the following is true of appeals made to higher courts?
A) The attorneys for each party put forth verbal arguments instead of filing written briefs. B) They make it mandatory for appellate courts to hear the testimony of witnesses. C) The decision of the appellate court is binding on lower courts. D)The complete transcript of trial court proceedings is offered by the defendant directly to the jury.