Business, 05.05.2020 08:42 angellynn50

Assume that Horicon Corp acquired 25% of the common stock of Sheboygan Corp. on January 1 for $300,000. During the year Sheboygan Corp. reported net income of $160,000 and paid total dividends of $60,000. What entry would Horicon make to record the receipt of the dividend from Sheboygan?
A. Debit Cash and credit Revenue from Investment in Sheboygan Corp.
B. Debit Dividends and redit Revenue from Investment in Sheboygan Corp.
C. Debit Cash and credit Stock Investments
D. Debit Cash and credit Dividend Revenue.

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Assume that Horicon Corp acquired 25% of the common stock of Sheboygan Corp. on January 1 for $300,0...

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