Business, 04.07.2020 01:01 mosleykimberly944
Perry Investments bought 2,000 shares of Able, Inc. common stock on January 1, 2017, for $20,000 and 2,000 shares of Baker, Inc. common stock on July 1, 2017 for $24,000. Baker paid $2,400 of previously declared dividends to Perry on December 31, 2017. At the end of 2017, the fair value of the Able stock was $18,000 and the fair value of the Baker stock was $28,000. The stocks were purchased for short-term speculation prior to the effective date of the change in accounting rules for equity investments. Perry owns 10% of each company. Perry should record the receipt of the Baker dividend as:.
A. DR Cash 2,400 CR Investment in Baker 2,400.
B. DR Cash 240 CR Dividend income 240.
C. DR Cash 2,400 CR Dividends receivable 2,400.
D. DR Dividends receivable 2,400 CR Dividend income 2,400.
Answers: 1
Another question on Business
Business, 23.06.2019 01:50
Which term best describes the statement given below? if p = q and q = r, then p = r
Answers: 1
Business, 23.06.2019 07:00
Ricardo conducts a survey to learn where consumers get information for buying used cars. this is an example of
Answers: 1
Business, 23.06.2019 07:50
Three students were applying to the same graduate school. they came from schools with different grading systems. student gpa school average gpa school standard deviation thuy 2.9 3.2 0.8 vichet 83 75 20 kamala 8.6 8 0.4 which student had the best gpa when compared to other students at his school? explain how you determined your answer. (enter your standard deviation to two decimal places.) correct: your answer is correct. had the best gpa compared to other students at his school, since his gpa is 2.25 incorrect: your answer is incorrect. standard deviations correct: your answer is correct. his school's average gpa.
Answers: 3
Business, 23.06.2019 22:00
During the current year, bob's ceramics shop had sales revenue of $60,000, of which $25,000 was on credit. at the start of the current year, accounts receivable showed a $3,500 debit balance, and the allowance for doubtful accounts showed a $300 credit balance. collections of accounts receivable during the current year amounted to $18,000.
Answers: 1
You know the right answer?
Perry Investments bought 2,000 shares of Able, Inc. common stock on January 1, 2017, for $20,000 and...
Questions
English, 28.05.2020 18:58
Mathematics, 28.05.2020 18:58
Mathematics, 28.05.2020 18:58
Geography, 28.05.2020 18:58
Mathematics, 28.05.2020 18:58
