31. Textile Manufacturing owns 30% of Propper Inc. stock. Propper pays a total of $47,000 in cash dividends for the period. Textile's entry to record the cash dividend received from Propper would include a:
Select one:
a. Credit to Earnings from Equity Method Investment for $14,100
b. Debit to Equity Method Investments for $14,100
c. Credit to Equity Method Investments for $14,100
d. Credit to Dividend Revenue for $14,100
e. Debit to Cash for $47,000
32. Hamilton Corporation purchased 40% of Burr Corporation for $100,000 on January 1. On June 20 of the same year, Burr Corporation declared total cash dividends of $50,000. At year-end, Burr Corporation reported net income of $200,000. The balance in Hamilton's Equity Method Investments—Burr Corporation account as of December 31 should be:
Select one:
a. $160,000
b. $100,000
c. $200,000
d. $250,000
e. $350,000
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