Marjam Company owns 35,200 shares of MacKenzie Company's 110,000 outstanding shares of common stock. MacKenzie Company pays $33,500 in total cash dividends to its shareholders. Marjam's entry to record this transaction should include a:
A. Credit to Dividend Revenue for $10,720.
B. Credit to Interest Revenue for $33,500.
C. Credit to Equity Method Investments for $10,720.
D. Credit to Dividend Revenue for $33,500.
E. Credit to Equity Method Investments for $33,500.
Answer: C
You might also like to view...
Let graphics speak for themselves without adding a textual explanation
a. true b. false
The exclusion of flood in a homeowners policy is an example of an
A) excluded activity. B) excluded condition. C) excluded property. D) excluded peril.
A, B and C own property as joint tenants with right of survivorship. C makes an inter vivos conveyance to D. C's actions: A) Are ineffective - D must return the property
B) Are effective provided the other joint tenants consented. C) Are effective and D is a tenant in common. D) None of the above
Discuss the tax consequences of listed property being used for the production of income compared to being used in a trade or business