Segmental Manufacturing owns 35% of Glesson Corp stock. Glesson pays a total of $47,000 in cash dividends for the period. Segmental's entry to record the cash dividend received from Glesson would include a:
A. Credit to Equity Method Investments for $16,450.
B. Debit to Equity Method Investments for $16,450.
C. Credit to Cash for $16,450.
D. Credit to Investment Revenue for $47,000.
E. Debit to Cash for $47,000.
Answer: A
You might also like to view...
In 2016, Valencia Company purchased equipment for $363,000 and also sold some special purpose machinery with a book value of $155,000 for $182,000 . In its statement of cash flows for 2016, Valencia should report the following with respect to the above transactions:
a. $363,000 cash used by operating activities; $182,000 cash provided by financing activities. b. $181,000 net cash used by investing activities. c. $181,000 net cash used by investing activities; $27,000 net cash provided by operating activities. d. $363,000 net cash used by investing activities.
What are the three important elements to the successful management of difficult situations?
What will be an ideal response?
A supervisor can build trust by
A) Communicating facts. B) Recognizing sensitive issues. C) Maintaining authority. D) All of the above. E) A and B.
Brock Brocklin, a stockbroker, invited Tom Thomson, a long-term client, to lunch to sell some stocks. Tom brought a friend, Clive Clernons. Brock mistakenly recommended Morden Plastics as being a good investment
The three martinis clouded his memory: the company name should have been Borden Plastics. Tom didn't buy Morden Plastics, but Clive did and lost heavily. Now Clive wants to sue Brock for negligence advice. Which of the following is true? A) There is no right to sue for negligent use of words. B) There was no contract between Brock and Clive so Clive has no legal basis to sue. C) Clive will have to establish that he was in the scope of duty owed by Brock to win his action. D) Clive will only have to prove that Brock was careless to win his action. E) Clive should sue Tom for breach of fiduciary duty.