Kagit Inc. is a paper products company based just outside of Vancouver. Suppose Kagits financial statements reported
Question:
Kagit Inc. is a paper products company based just outside of Vancouver. Suppose Kagit’s financial statements reported the following items for affiliated companies whose shares Kagit owns in various percentages between 20 and 50 percent:
Assume there were no sales of equity method investments during 2019 or 2020.
Required
Prepare a T-Account for Equity Method Investments to determine the amount of dividends Kagit Inc. received from investee companies during 2020. The company’s year-end is December 31. Show your calculations.
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