In 20X0, Neil Company held the following investments in common stock: 25,000 shares of B&K Inc.s 100,000

Question:

In 20X0, Neil Company held the following investments in common stock:

25,000 shares of B&K Inc.’s 100,000 outstanding shares. Neil’s level of ownership gives it the ability to exercise significant influence over the financial and operating policies of B&K.

6,000 shares of Amal Corporation’s 309,000 outstanding shares.

During 20X0, Neil received the following distributions from its common stock investments:

image text in transcribed

What amount of dividend revenue should Neil report for 20X0?

a. $1,500

b. $4,200

c. $31,500

d. $34,200

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Related Book For answer-question

Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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Question Posted: Mar 13, 2024 07:00 AM

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In 20X0, Neil Company held the following investments in common stock: 25,000 shares of B&K Inc.s 100,000

Question:

November 6 $30,000 cash dividend from B&K November 11 $1,500 cash dividend from Anal December 26 3 percent common stock dividend from Amal The closing price of this stock was $115 per share.

Step by Step Answer:

Advanced Financial Accounting

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