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kraigstlistt
17.07.2019 •
Business
Montero co. holds 100,000 common shares (40%) of ord corp. as a long-term investment. ord corp. paid a $100,000 dividend on november 1, 2017, and reported a net income of $700,000 for 2017. prepare entry to record the receipt of the dividend and the december 31, 2017, year-end adjustment required for the investment account.
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Ответ:
Cash 40,000
ORD Corp 40,000
to record the cash payment of ORD Corp
ORD Corp 280,000
Gain on Investment/ ORD Corp 280,000
to record the proportional net income of ORD Corp
Explanation:
100,000 x 40% = 40,000
700,000 x 40% = 280,000
The cash is treated as moving money from one place to another
It is moving from the company you have a degree of control, from your company. It increase your cash and decrease the Investment
The net incoem will be the gain in the investment, adn will impact the invstment asset and the gain on investment
Ответ:
Yes, in traditional savings account you can add money regularly, but usually you are limited to the amount of withdrawals.