Glover Inc. received a $0.20-per-share cash dividend on 50,000 shares of Gestalt Corporation common stock, which Glover

Question:

Glover Inc. received a $0.20-per-share cash on 50,000 shares of Gestalt common stock, which Glover Inc. carries as a long-term investment. Assuming that Glover Inc. uses the equity method of accounting for its investment in Gestalt what account would be credited for the receipt of the $10,000 Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...